Dec 03 - 09, 2007

LAHORE: The US $80 million 136MW Power Plant set up by US-based Pakistan Power Resources (PPR) and Associated Group (AG) at Bhikhi, Punjab, has started dispatching 20MW of power to the national electricity grid.

The project, one of the fastest-implemented large-scale power plants of its kind in the country, uses aero-derivative gas turbines and was awarded late last year through an international competitive bidding process, Mr. Fasih Ahmed, Director, Associated Group, said.

According to Mr. Fasih, Pakistan Power Resources project would help Pakistan meet its rising energy requirements. Full commissioning of the Plant is due within the current year.

Talking about Jamshoro Joint Venture Limited (JJVL), Mr. Fasih said JJVL has been recognised again by its peers in the global energy world. JJVL is a finalist for the Rising Star Award at the Ninth Annual Platts Global Energy Awards. Last year, JJVL was a finalist for the Energy Pioneer and Downstream Business of the Year awards. "We're honoured to have been recognised as a finalist in a category representing some of the biggest energy companies in the world," said Mr. Fasih Ahmed, who is also director of JJVL. "We are continuing our efforts to augment local LPG production to ensure the availability of affordable product throughout the Pakistan," Mr. Fasih said.

He further said JJVL is Pakistan's single largest producer of LPG and represents an investment of US$100 million in the sector through its existing 200MMscfd and upcoming 125MMscfd LPG Production Plants in Hyderabad. JCR-VIS Credit Rating Company Limited earlier this year awarded JJVL an Entity Rating of A+/A-1 and Secured Debt Rating of AA-. Platts, a division of McGraw-Hill Companies, is a leading global provider of energy and metals information with nearly a century of business experience. The Government of Pakistan uses the Platts-published Saudi Aramco Contract Price to determine the price of local LPG production each month under a formula implemented last January, Fasih added.

Talking about Pakistan GasPort Limited LNG Project, Mr. Fasih said Pakistan GasPort Limited's Offshore LNG Import Terminal and LPG Extraction Project is an undertaking of Associated Group (AG) which is assuming all Project costs and risks. The US $162 million Project being situated at Port Qasim, Karachi, is expected to be commissioned by November 2008. It will have the capacity to produce up to 1,000 metric tonnes of LPG and add up to 400mmscfd of natural gas to Pakistan's total availability. US-based Mustang Engineering and Abu Dhabi's AdYard are working on the Project alongside China Harbour Engineering Company, Mr. Fasih added.