Two RLNG power plants: due diligence begins

Business Recorder/11-02-2020

ISLAMABAD: The Ministry of Privatisation has started due diligence in the process of privatisation of two RLNG-based power plants -Haveli Bahadur Shah and Balloki -with an objective to complete the transaction by the end of the current financialyear. The Ministry of Privatisation has pre-qualified 12 companies for the privatisation of two RLNG-based power plants located at Haveli Bahadur Shah and Balloki. In this regard, a delegation from Thailand Investment Company, Global Power Synergy Public Company Limited (GPSC), Thailand, called on Federal Minister for Privatisation Mohammedmian Soomro on Monday. The delegation was briefed about the power plants and their existing and future status in the energy matrix. Global Power Synergy Public Company Limited (GPSC) is a flagship that operates the power generation business to support growth of the group as well as other industries. The GPSC is also involved in other businesses, while seeking opportunities for investment in power projects, both domestic and overseas. It is also determined to develop technologies for improving energy storage in its attempt to become a leading power company that is internationally recognized for innovation and sustainability. A comprehensive presentation to that effect was also presented, explaining power sector framework, organizational functioning, prevailing energy scenario and also increase in demand for power. Soomro said, “We encourage foreign investment and Ministry of Privatisation is committed to facilitate the foreign investors in all areas by providing business friendly, efficient and conducive environment.”