Nov 29 - Dec 5, 20

Tuwairqi Steel Mills Limited, a subsidiary of Al Tuwairqi Holding of the Kingdom of Saudi Arabia, is actively endeavoring to support Pakistan in getting out of power crisis in collaboration with GRESHAM's Eastern Pvt. Ltd., leading energy and environmental solution provider.

Tuwaiqi Steel has recently signed an agreement with three Slovenian companies of the European Union i.e. IBE, Turbo Institute and KIV for indigenised development of alternate/renewable energy projects. In this respect MoUs were signed with Slovenian companies at the office of Sindh Board of Investment's (SBI) in Karachi.

It will be interesting to note that these Slovenian entrepreneurs will be providing new technologies to develop alternate/renewable energy resources in order to meet the ever increasing demand of power in this part of the world with special focus on reducing the emission of green-house gases.

Actually, Pakistan is in dire need of cheaper source of energy instead of taking a royal road of costly projects like rental power which in no way synergises with the given economic conditions in our country.

It may be mentioned that recently a Turkish ship carrying 232 megawatt power project anchored at Karachi port and later on moved to Ibrahim Hydri harbor where it was linked with the national grid.

The additional amount of power supplied by Turkish plant is supposed to help improve power shortage in the industrial city. However, it is not clear yet as to how the Pepco or KESC are going to absorb the additional cost of electricity produced by the rental power which is estimated to over Rs15.50 a unit as compared to existing cost of around Rs9.35 per unit. The power-generating ship came as part of an agreement signed a year ago between Pakistan and a private Turkish company at an agreed tariff of 5.98 cents per unit in May of 2009. However, since then dollar has appreciated against rupee while the fuel oil cost has also escalated.

Looking into the economics of power generation, the current rupee-dollar exchange rate the price of rental power comes to Rs15.66. Such lavish solution is feared to aggravate the problems of the energy consumers as at the end of the day they have to pay the price hence it should be the supreme responsibility of the policy makers to give first priority to the affordability of the people under the current situation where the rate of unemployment and poverty level is seriously threatening to the social fabric as well as living standards of the people in general.


In this backdrop, the efforts to develop cheaper source of alternative energy sound pleasant and raising hope of the energy starved consumers. Under the agreement IBE will provide technical assistance in setting up alternate and renewable energy based plants/facilities, while Turbo Institute will collaborate to provide the technology of small to medium scale turbines, which are effective for hydropower set-ups on canals and rivers. In addition, KIV is providing leading European expertise in gasification and power generation from municipal solid waste and various biomass sources. The advantage of these three MOUs is to Pakistan's benefit in terms of a potential direct and indirect investment, creation of technical jobs, and cost saving in oil import.

The MOUs were signed by Zaigham Adil Rizvi, Director (Projects), TSML, Mian Suhail Hussain, CEO, Gresham's Eastern Pvt. Ltd., Uros Mikos, GM, IBE Consulting Engineers, Vladimir Kercan, General Director, Turbo Institute and Ivo Kreca, GM, KIV. Mohammad Zubair Motiwala, Advisor to Chief Minister for Investment and Mohammad Younus Dagha, Secretary Investment/DG SBI were present on the occasion of signing ceremony.

These companies were the part of Slovenian trade delegation headed by Dr. Zeljko Warga, Exec. Director-European Operations, GRESHAM's Eastern Pvt. Ltd.

On this occasion, Zaigham Adil Rizvi, Director (Projects), TSML said: "Sindh Board of Investment played a vital role in the endorsement of these MoUs, which are expected to attract investment in this ever-growing sector, a need that is the foremost requirement of Pakistan today."

Expressing his happiness at this remarkable development, Muhammad Zubair Motiwala praised the vision of TSML, Gresham, IBE Turbo Institute and KIV, highlighted the dire need of ventures like this one in the engineering sector for the uplift of local industries. He pointed out that the objective is to fully facilitate local as well as foreign investors so that they look no further than investing in Pakistan.

By signing MoUs with IBE & Turbo Institute TSML will become the exclusive "Valued Added Reseller" of these emerging technologies in this region, which will not only contribute towards generation of clean energy, but it will also create ample job opportunities.

Slovenia is one of the fastest growing economies among the members of EU, which was once a part of the former Yugoslavia. Slovenia is also known for the research and development activities it harbingered since long, when it was a regional republic. A number of institutes and organizations are involved in research and development in the fields of thermal sciences and power engineering. IBE & Turbo Institute are the pioneers among those organisations, which bring with them technologies which are simple and innovative, yet cost effective. These technologies are particularly suited to the demographic conditions of this region.