Port Qasim Lucky power station

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Port Qasim Lucky power station is a 660-megawatt (MW) coal-fired power station proposed by Lucky Electric Power Company Limited in Port Qasim, Pakistan.

Location

The map below shows the location of Port Qasim, the approximate location of the proposed project

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Background

Lucky Electric Power Company Limited has proposed a coal plant of 660 MW at Port Qasim. It was given a letter of support by the Pakistan Private Power and Infrastructure Board on June 8, 2015.[1]

In March 2016, the Pakistan Power Infrastructure Board approved the project.[2]

The project would cost $1 billion, and would be financed on a 75:25 debt:equity ratio; it is unclear whether all financing for the project has been secured. Once begun, construction would take 48 months.[3] Financing would come from the Industrial and Commercial Bank of China, among others. Construction work would be performed by SEPCO III Electric Power Construction.[4][5]

In November 2016, Lucky Electric announced that the plant would run on domestic coal from the Thar lignite mine, rather than imported coal, in line with government policy to increase reliance on domestic coal. At the time, Lucky stated that it planned to achieve financial close by March 2017, and to begin commercial operations by the end of 2019; as of June 2017, however, there had been no announcement of financial close.[6][7] In December 2016, Lucky signed an engineering, procurement, and construction (EPC) contract with SEPCO III.[8]

In July 2017 it was reported that Lucky Cement was facing delays in developing the coal plant as Sindh Engro Coal Mining Company (SECMC) was reluctant to sign a coal supply agreement.[9]

A June 5, 2018 updated list of "Upcoming IPPs" by the Ministry of Water & Power states the plant will be commissioned in March 2021.[10]

In July 2018 it was reported GE Power will provide the boiler and steam turbine technology for the plant, which is ultra-supercritical.[11]

According to the government of Pakistan (December 2018) the plant is under construction.[12]

Financing

Financial close was announced on June 26, 2018. Lucky Power Project is being financed through debt-to-equity ratio of 75:25. The consortium of lenders include Habib Bank, United Bank, National Bank, Bank Alfalah, Askari Bank, Soneri Bank, The Bank of Punjab, Meezan Bank, Faysal Bank, Dubai Islamic Bank,[13] and Industrial and Commercial Bank of China.[3]

Coal supply

In April 2018 Lucky Electric Power signed a coal supply agreement with Sindh Engro Coal Mining for the delivery of 3.6 million tons of coal per annum from Sindh's open-pit mine in block-II of Thar field.[14]

Project Details

  • Sponsor: Lucky Electric Power Company Limited
  • Parent company: Lucky Cement
  • Location: Deh Ghangario, Bin Qasim Town, Karachi, Sindh province, Pakistan
  • Coordinates: 24.766667, 67.333333 (approximate)
  • Status: Construction
  • Gross Capacity: 660 MW
  • Type: Ultra-supercritical
  • Projected in service: 2021
  • Coal Type: Lignite
  • Coal Source: Thar coal, Pakistan
  • Source of financing: Industrial and Commercial Bank of China,[3] Habib Bank, United Bank, National Bank, Bank Alfalah, Askari Bank, Soneri Bank, The Bank of Punjab, Meezan Bank, Faysal Bank and Dubai Islamic Bank[13]

Articles and resources

References

  1. "Upcoming," Pakistan Private Power and Infrastructure Board, updated on 16-06-2015
  2. Lucky Cement gets licence to generate 660MW coal power, The News, 6 Mar. 2016.
  3. 3.0 3.1 3.2 About Us: Project at a Glance, Lucky Electric Power Company website, accessed July 2016.
  4. Application for a Grant of Generation License, Lucky Electric Power Company, 20 Feb. 2015.
  5. "Upcoming IPPs," Pakistan Private Power and Infrastructure Board, accessed Nov 2016
  6. Lucky Power eyes financial close by March next year, Dawn, 16 Nov. 2016.
  7. Lucky power plant to be the first to run on Thar coal, Express Tribune, 16 Nov. 2016.
  8. SEPCO III Signed EPC Contract of Lucky 660 MW Coal Fired Power Plant Project, SEPCO III press release, 26 Dec. 2016.
  9. Zafar Bhutta, "Govt approves coal supply deal with any Thar developer," The Express Tribune, July 4, 2017
  10. "Upcoming IPPs," Private Power & Infrastructure Board, Ministry of Power, updated June 5, 2018
  11. "GE and SEPCOIII to build first ultra-supercritical power plant in Pakistan," World Coal, July 9, 2018
  12. "Upcoming IPPs," Government of Pakistan, updated December 17, 2018
  13. 13.0 13.1 "Govt signs financial close for 660MW Lucky Power," Dawn, June 26, 2018
  14. "Lucky Electric to get 3.6m tons of coal from Thar field," Tribune, April 29, 2018

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