PPIB Announces $2 Billion Financial Close of Thar Coal-Fired Plant

(ProPakistani, Islamabad, 14 December 2023) The Private Power and Infrastructure Board (PPIB) announced the $2 billion financial close of the Thar coal-fired power project, which is currently under Chinese management. The project’s main sponsor is Shanghai Electric Group Corporation, while the coal supplier from Thar Block-1 is Sino-Sindh Resources Limited (SSRL). The ICBC, China Development Bank, Bank of Communications Co. Limited, China Minsheng Bank Corporation, Postal Savings Bank of China Co Limited, and Agriculture Bank of China are the main sponsors while Sinosure, China’s premier provider of export credit insurance, was the insurer. The project, which has a power capacity of 1,320MW, is part of the China-Pakistan Economic Corridor (CPEC). This plant brings the total installed capacity of five commissioned Thar coal-based power plants to 3,300MW.