Port Qasim Lucky power station
|This article is part of the CoalSwarm coverage of Pakistan and coal.|
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.
It is the first project expected to begin power production on Thar's lignite coal.
The map below shows the location of the power station, near Bin Qasim Town, Karachi city, Sindh province.
In March 2016, the Pakistan Power Infrastructure Board approved the project.
The project cost $1 billion, and would be financed on a 75:25 debt:equity ratio. Once begun, construction would take 48 months. Financing would come from the Industrial and Commercial Bank of China, among others. Construction work would be performed by SEPCO III Electric Power Construction.
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. In December 2016, Lucky signed an engineering, procurement, and construction (EPC) contract with SEPCO III.
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.
A June 5, 2018 updated list of "Upcoming IPPs" by the Ministry of Water & Power stated the plant would be commissioned in March 2021.
In July 2018, it was reported GE Power would provide the boiler and steam turbine technology for the ultra-supercritical plant.
According to the government of Pakistan in December 2018, the plant was under construction.
In January 2021, commercial production faced a delay of around five months due to inability of the government to finish construction of transmission lines on time in the wake of Covid-19. The company, however, refused to accept excuses from government agencies responsible. According to a Pakistan Stock Exchange filing, based on the current level of National Transmission and Despatch Company (NTDC) readiness for providing the interconnection facility and government's eagerness to extend necessary support to the power purchaser in this respect, "it appears that the project may achieve commercial operation by the middle of first quarter of FY22."
In May 2021, the company reported the plant would achieve a completion status of approximately 97.5% by end of the quarter, and based on NTDC readiness and the government's support, would likely achieve Commercial Operation by the middle of the first quarter FY 2022 (July to September 2021).
Financial close was announced on June 26, 2018. Lucky Power Project is being financed through a debt-to-equity ratio of 75:25. The consortium of lenders includes Habib Bank, United Bank of Pakistan, National Bank of Pakistan, Alfalah Bank, Askari Bank, Soneri Bank, Bank of Punjab, Meezan Bank, Faysal Bank, and Dubai Islamic Bank and is providing US$825 million in loans. Lucky Cement is providing US$275 million in equity.
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 the Thar Mine.
- Sponsor: Lucky Electric Power Company Limited
- Parent company: Lucky Cement
- Location: Deh Ghangario, Bin Qasim Town, Karachi, Sindh province, Pakistan
- Coordinates: 24.8128054, 67.2745601 (exact)
- Status: Construction
- Gross Capacity: 660 MW
- Type: Ultra-supercritical
- Projected in service: September 2021
- Coal Type: Lignite
- Coal Source: Thar Mine, Pakistan
- Source of financing: US$825 million in debt from Habib Bank, United Bank of Pakistan, National Bank of Pakistan, Alfalah Bank, Askari Bank, Soneri Bank, Bank of Punjab, Meezan Bank, Faysal Bank, and Dubai Islamic Bank; US$275 million in equity from Lucky Cement
Articles and resources
- "Upcoming," Pakistan Private Power and Infrastructure Board, updated on June 16, 2015
- About Us, Lucky Electric Power website, accessed June 2019
- "Lucky Cement gets licence to generate 660MW coal power," The News, March 6, 2016
- "About Us: Project at a Glance," Lucky Electric Power Company website, accessed July 2016
- "Application for a Grant of Generation License," Lucky Electric Power Company, February 20, 2015
- "Upcoming IPPs," Pakistan Private Power and Infrastructure Board, accessed November 2016
- "Lucky Power eyes financial close by March next year," Dawn, November 16, 2016
- "Lucky power plant to be the first to run on Thar coal," Express Tribune, 16 November 16, 2016
- "SEPCO III Signed EPC Contract of Lucky 660 MW Coal Fired Power Plant Project," SEPCO III press release, December 26, 2016
- Zafar Bhutta, "Govt approves coal supply deal with any Thar developer," The Express Tribune, July 4, 2017
- "Upcoming IPPs," Private Power & Infrastructure Board, Ministry of Power, updated June 5, 2018
- "GE and SEPCOIII to build first ultra-supercritical power plant in Pakistan," World Coal, July 9, 2018
- "Upcoming IPPs," Government of Pakistan, updated December 17, 2018
- "660MW coal power plant faces delay," Express Tribune, January 30, 2021
- "Lucky Cement shares financial results," World Cement, May 13, 2021
- "Govt signs financial close for 660MW Lucky Power," Dawn, June 26, 2018
- "Preview of Port Qasim Coal-Fired Power Plant (660MW)," IJGlobal, September 22, 2020
- "Lucky Electric to get 3.6m tons of coal from Thar field," Tribune, April 29, 2018