KE enters tripartite agreement with CDTO and CMEC

K-Eletric (KE), China Datang Overseas Investment Co. (CDTO), and China Machinery Engineering Co. (CMEC) have entered into a binding tripartite joint development agreement for the development of a 700 MW coal-fired power project at Port Qasim, Pakistan. The project aims to bring investment of over US$1 billion into Pakistan, which will help diversify the country’s fuel mix and lower the generation cost.

CEO K-Electric, Tayyab Tareen, commented: “It gives us immense pleasure to join hands with companies like CDTO and CMEC for the development of this project of critical importance. KE is developing new generation projects at highest priority. This particular project will go a long way in addressing the power needs of the country, specifically the people of Karachi.”

“As one of the largest Chinese power generation groups, China Datang shall always attach great importance to the power sector development of Pakistan. China Datang shall be fully committed to work closely with CMEC and K-Electric towards the completion of Port Qasim 2x350MW coal-fired power plant in a timely manner, which shall contribute to the solution of energy shortage, to boost the economy, and to serve the people of Karachi,” added Mr.Duan Zhongmin, President CDTO.

Edited from press release by Angharad Lock

Read the article online at: https://www.worldcoal.com/coal/15092015/ke-enters-tripartite-agreement-with-cdto-and-cmec-2854/