KARACHI: The Karachi Electric Supply Company (KESC) has signed a Memorandum of Understanding (MoU) with Oracle Coalfields, a company incorporated in England and Wales and primarily engaged in coal drilling, exploration, mining and production, to set up a major coal-fired power plant at Thar Coalfields in Sindh.
An announcement to this effect was made in a statement issued by the KESC.
According to the MoU, Oracle Coalfields will own and operate the mine supplying coal to the power plant.
This MoU is part of KESC’s initiative to develop and implement several power projects based on local alternate energy sources on fast-track basis to overcome the existing and projected energy shortage in Karachi.
The integrated coal mine and power generation structure will ensure a long-term fuel supply from Oracle Coalfields for the operation of the coal-fired power plant.
Moreover, this will create interest and momentum for other investors to explore the huge coal reserves in Thar which in turn will contribute greatly towards the economic revival of Pakistan.—APP
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