Thar Power Company Limited
Concrete and landmark progress was achieved during the year for financial close. EPTL obtained Generation License from NEPRA effective on March 18, 2015. Subsequently, EPTL also received Letter of Support from Private Power and Infrastructure Board (PPIB) dated April 17, 2015. On May 4, 2015, EPTL entered into Power Purchase Agreement (PPA) with National Transmission and Dispatch Company and Implementation Agreement (IA) and Supplemental IA with Islamic Republic of Pakistan. EPTL also signed Coal Supply Agreement with SECMC on June 7, 2015. Basic engineering studies were initiated and preliminary geotechnical & topographic surveys were also completed during the year. CMEC has completed Geotechnical & Topographic Surveys. 96 Bore holes (Up to 50m depth) have been done and topographic survey of Power Plant Site has also been completed. Piling test activity has been initiated at Power Plant Site by CMEC and 8 confirmatory bore holes have been completed. During the year, EPTL finalized its envisaged shareholding structure and signed financing agreements with local and foreign lenders. EPTL’s project cost is expected to be ~USD 1,108 Mn of which ~USD 831 Mn is to be arranged through debt while ~USD 277 Mn in the form of equity based on a debt to equity ratio of 75:25. Engro Powergen Limited will be the majority ordinary shareholder in the project with a proposed 51% common equity investment. Rest of the equity is planned from the CMEC Thar Power Investments Limited and other local investors (Habib Bank Limited and Liberty Mills). Major financing agreements were executed on December 21, 2015. Financial close and disbursement of loan is expected after execution of security documents, issuance of guarantee and completion of legal formalities.
- Registered Office | 4th floor, The Harbor Front Building, Plot Number HC-3, Block 4, Scheme No. 5, Clifton, Karachi.
- Status of Company | Private Limited
- Company Registration Number | 0084011
- NTN | 4314951-7
- Legal Advisor | Muhammad Jamil
- External Auditors | A.F. Ferguson And Company