The project also includes construction of reservoirs for storing water; Kuwaiti Company EnerTech will start work on the project from July
Karachi: Sindh government on Thursday signed Rs.30.1 billion or $190 million a 25-year Concession Agreement with EnerTech Holding, a Kuwait state-owned Company, for provision of 45 cusecs water to the Thar Coal-fired Power projects through a 61-kilometer pipeline from Nabisar to Vajihar.
The EnerTech Holding Company signed the MOU with Sindh government and was awarded the Letter of Interest (LoI) to develop the Nabisar-Vajihar water supply project for supply of water to the power projects.
“The project will ensure the supply of industrial water for coal-based power sector which is important for the development of power infrastructure project,” the chief minister Syed Murad Ali Shah said speaking at the signing ceremony and added that the project is to be completed on fast-track basis.
CEO of EnerTech Yasser Malik told the chief minister that the financial close was expected in July 2021 and the construction would be started in the same month-July also.
On behalf of the Sindh Government, Secretary Irrigation Saleem Khuhro and CEO EnerTech Water Company Yasser Malik signed the concession agreement.
EnerTech Holding Company is a fully owned subsidiary of National Technology Enterprises Company (NTEC), which in turn is a fully owned subsidiary of the Kuwait Investment Authority (KIA), the Sovereign Wealth Fund of the State of Kuwait.
The 25-year concession agreement relates to the processing and supply of 45 Cusecs water from Nabisar, through a 61 kilometer pipeline to Vajihar. The project will also encompass the construction of reservoirs at Nabisar and Vajihar to ensure storage of water for a cumulative period of 175 days.
The Chief Executive Officer of EnerTech Holding Company, Mr. Abdullah Al Mutairi stated: “this is a strategic project for EnerTech, developed in partnership with the Sindh government – we are pleased to have developed a sustainable and critical project on a fast-track basis during the coronavirus pandemic.”
Consul General of Kuwait Salim Yusif Al-Hamdan, CEO EnerTech water Yasser Malik, COO Usman Ahsan, MD Pak-Kuwait Investment Company, Minister Energy Imtiaz Shaikh, Minister Irrigation Sohail Anwar Siyal and Minister Local Government Nasir Shah attended the ceremony.
Deputy Under-Secretary of Foreign Affairs of Kuwait Abdullah Al-Turki, Ambassador of Kuwait Nasar Abdul Rahman J Al-Mutairi, Pakistan’s Ambassador to Kuwait Syed Sajjad Haider and CEO EnerTech Holding Company Kuwait Abdullah Al-Mutairi witnessed the signing ceremony through video link. (PR)