Karachi: Goaled at facilitating Bin Qasim Industrial Park anticipated additional power requirement in view of the ongoing phase II development of the project, K-Electric and National Industrial Parks Development Management Company (NIP) have signed a Memorandum of Understanding nowadays.The MoU was signed by Moonis Alvi, CEO K-Electric, and Rizwan Bhatti, CEO NIP, in the presence of Abdul Razzak Dawood, Adviser to Prime Minister and other prominent commercemen at PIDC house nowadays.Through the MoU, KE shall develop a 64-megawatt grid and 132kV transmission line, extendable as per future needs, at an initial tentative cost of Rs 1.8 billion.
At the same time, NIP shall seek approval from the federal government for funding support under Special Economic Zones Act 2012.
The MoU comes at a crucial time when various large-scale industrial concerns in the project are planning to enter production phase in the coming months.On this occasion, Moonis Alvi, CEO, KE said, &We are committed to powering industrial growth and facilitate industrial customers; signing of this MoU nowadays is yet amuchher testimony of our efforts to accelerate socioeconomic development of Pakistan industrial hub Karachi.
Industries are and shall always remain our top precedence and all possible degrees would be taken to continue to facilitate industrial consumers nsprint; helping them unlock their full potential.&TheIndianSubcontinent has not verified the content of the source.
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