KARACHI: Minister for Industries and Production Makhdoom Khusro Bakhtiar on Thursday met with senior management of K-Electric at the company’s Bin Qasim Power Complex.
They reviewed progress on the Bin Qasim Power Station 3 (BQPS-III), mega-project which will add 900MW to K-Electric’s generation capacity and bolster the future of Karachi’s growth.
Equipped with state-of-the-art technology, the 900MW plant is being built at an estimated cost of around $650 million to generate clean and reliable energy for Karachi. Upon completion, the power plant will be among the top 5 most efficient plants in the country. Work on the first unit of 450MW is 90 percent complete while the second phase of 450MW is also proceeding swiftly.
The federal minister appreciated K-Electric’s efforts to make sustained investments for Karachi’s betterment. “Karachi is an industrial hub for the country and the focus of my visit was to see the progress across sectors. It is encouraging to see the progressive vision that is driving KE’s efforts.”
“Industries are the engine of our economy and the Government is committed to supporting their growth through enabling policies. There is tremendous potential for investment in Pakistan, and a robust utility supply is integral to achieving this.”
He said the addition of 900MW for Karachi is a gift to the people and the industries, adding that it would be a great honour for the plant to be formally inaugurated by the prime minister upon completion.
CEO K-Electric Moonis Alvi also thanked the Honorable Minister for his visit. He said the BQPS-III is a collaboration between several stakeholders on both the engineering and financing side which demonstrates the vision for the prosperous future.
“A stable, safe, and consistent supply of energy is crucial to sustaining continued development in Karachi, and KE is proud to be leading this effort for its customers. We appreciate the support of the Federal Government and associated Ministries and look forward to embarking on a new era of progress and prosperity.”
In a statement, K-Electric said it has been working closely with the federal government and relevant stakeholders to establish new interconnections and grids at key locations which would enable Karachi to receive additional power from the national grid, taking the total drawl to 2,050MW, which will cement the company’s mission to provide safe and reliable power to its growing customer base of 3.2 million and more.
The power utility said growth in power demand in KE’s service area is expected to remain above 5% and KE expects over 700MW of new connections in the next two years, with more than half in the industrial segment.
Construction works on BQPS-III plant started in December 2019 and work is progressing on a fast-track basis for completion of the plant to keep pace with the demand growth of the city.
In August 2021, K-Electric entered into a Gas Supply Agreement (GSA) with Pakistan LNG Limited (PLL) for the provision of 150 mmcfd RLNG to KE’s Bin Qasim Complex in the presence of Minister of Energy Hammad Azhar and SAPM Tabish Gauhar. The GSA is the first of its kind where a government entity is directly providing gas to a private entity, and testifies to the Government’s commitment towards Karachi.