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Friday, May 24, 2024

Kuwaiti firm ‘EnerTech’ signs $190m pact with Sindh to provide water to Thar coal field

A 25-year Concession Agreement of $190 million has been signed between EnerTech Holding, a Kuwait state owned company and Sindh government for the provision of 45 cusecs water through a 61-kilometer pipeline from Nabisar to Vajihar.

According to details, the project will guarantee the supply of industrial water for the coal-based power sector and is extremely significant for the development of power infrastructure project.

The signing ceremony was attended by Council General of Kuwait Salim Yusif Al-Hamdan, CEO EnerTech water Yasser Malik, COO Usman Ahsan, MD Pak-Kuwait Investment Company.

Minister Energy Imtiaz Shaikh, Minister Irrigation Sohail Anwar Siyal, Minister Local Government Nasir Shah represented the Sindh government at the ceremony.

Deputy Under Secretary of Foreign Affairs of Kuwait Abdullah Al-Turki, Ambassador of Kuwait Nasar Abdul Rahman J Al-Mutairi, Pakistan’s Ambassador to Kuwait Syed SajjadHaider and CEO EnerTech Holding Company Kuwait Abdullah Al-Mutairi attended the signing ceremony through video link.

Read More: 40pc coal mining work completed at Thar, CM Sindh

The chief minister that the project is expected be completed on fast-track basis and Enertech has developed the project to date in a record time and would be completed within 12 months of financial close.

CEO of EnerTech Yasser Malik informed the minister that the financial close was expected in July 2021 and the construction would be started in the same month.

Secretary Irrigation Saleem Khuhro and CEO EnerTech Water Company Yasser Malik signed the concession agreement, on behalf of the Sindh Government

EnerTech Holding Company is a fully owned subsidiary of National Technology Enterprises Company (NTEC), which in turn is a fully owned subsidiary of the Kuwait Investment Authority (KIA), the Sovereign Wealth Fund of the State of Kuwait.

The 25-year concession agreement relates to the processing and supply of 45 Cusecs water from Nabisar, through a 61km pipeline to Vajihar and would also encompass the construction of reservoirs at Nabisar and Vajihar to ensure storage of water for a total period of 175 days.

The Chief Executive Officer of EnerTech Holding Company, Abdullah Al Mutairi stated “this is a strategic project for EnerTech, developed in partnership with Sindh government.”