Construction of two IPPs of 420MW starts

[LahoreEstate]

ISLAMABAD: Two more private sector power projects have gone into construction phase after achievement of financial closure, namely Hubco-Narowal Power Project and Liberty Power Tech Project, of 220MW and 200MW capacities, respectively. Managing Director, Private Power and Infrastructure Board (PPIB) Fayyaz Elahi had announced here today during a signing ceremony, which was also attended by other senior officials from the PPIB and the project companies. The sponsor of HUBCO-Narowal project located at Narowal is the Hub Power Company Limited, while the lenders of project include Habib Bank Limited (HBL), National Bank Limited (NBP), Allied Bank Limited (ABL) and Bank Al-Falah. The sponsors of Liberty Power Tech Project located near Faisalabad were Liberty Mills Limited and Mukaty Family, lenders of project being Allied Bank Limited (ABL), Habib Bank Limited (HBL), National Bank Limited (NBP), Faysal Bank Limited (FBL), Meezan Bank Ltd and Bank Al-Falah Ltd. The estimated investment in the HUBCO-Narowal project was approximately $274 million while in Liberty Power Tech Project it was $240 million. staff report

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