ECC approval sought to extend closing financial deadline

ISLAMABAD: Private Power Infrastructure Board (PPIB) has sought Economic Coordination Committee’s (ECC) approval for extension in financial closing deadline till December 31, 2018 for ±660 kV HVDC Matiari-Lahore Transmission Line without doubling Performance Guarantee (PG), well informed sources told Business Recorder.

Giving the background, the sources said, ±660 kV HVDC Matiari-Lahore Transmission Line (approx, 878 km) with an evacuation capacity of 4000 MW with Convertor Stations at Matiari and Lahore (the HVDC Project) is included in the list of priority projects under CPEC Agreement. In pursuance to ECC decision dated 20th December 2016 and subsequent approval by the PPIB Board, Letter of Intent (LOI) was issued to China Electric Power Equipment & Technology Co Ltd. (CET) on March 27, 2017.

Published in Business Recorder, 20th April, 2018