Thar project: Engro plans investment of $21.3 million

KARACHI: Engro Energy has planned to invest $21.4 million by way of subscription of ordinary shares in Siddiqsons Energy Limited, a Special Purpose Vehicle (SPV), to set up 330MW Thar coal-fired power generation facility.

According to a notice by Engro Corporation on the Pakistan Stock Exchange, the Board of Directors of Engro Energy Limited has approved the said investment to develop approximately 330 megawatt of Thar coal-fired power generation facility in Block II, district Tharparkar on a build, operate and own basis.

Engro Energy, Siddiqsons limited and Arif Habib Equity Limited have entered into a joint venture for the project.

Published in The Express Tribune, 8th May, 2018