Government of Sindh and Turkish companies ink deal for energy and Thar coal development

Karachi, November 21, 2013 (PPI-OT): A memorandum of understanding (MoU) between Government of Sindh and two Turkish companies including Sanko Holding A.S and Teyo A.S together referred as “ST” (Here and after ) was signed here at Chief Minister’s House Karachi today. With a view to kick start investment in energy and coal development, as Par decision of the Sindh Government to award Thar Coal Blocks to reputable and experienced companies through transparent and competitive process.

The Chief Minister Sindh Syed Qaim Ali Shah, The Sindh Minister for Information Sharjeel Memon, Advisor to C.M for Finance Syed Murad Ali Shah, Chief Secretary Sindh Sajjad Saleem Secretary Energy Agha Wasif, Secretary Finance Sohail Rajput and Director General Sindh Board of Investment Muhammad Riazuddin and Mr. Abdullkadir Konukoglu President, Mr. Zekeriye Konukoglu Vice President of Sanko Holding A.S and Mr Ferudun Korkmaz President of TEYO A.S from Turkish companies were present on this occasion.

Muhammad Riazuddin D.G Sindh Board of Investment signed the documents of MoU on behalf of Government of Sindh, while Mr. Abdullkadir Konukoglu President and Mr. Zekeriye Konukoglu Vice President of Sanko Holding A.S and Mr Ferudun Korkmaz President of TEYO A.S signed on behalf of their companies.

Under this MoU, “ST” Shall participate in Thar Coal Award process and intend to arrange 100 % project financing. “ST” promptly to provide the government of Sindh with such information that may assist the Government of Sindh for application to the authorities to receive land, letter of credit, and implementation agreement. “ST” Shall ensure to obtain financial close on or before 31-12-2014 and shall make it best efforts to implement the project in Four (04) years. From the date of achieving financial close of the project.

However the engineering and construction work for mining shall start on or before 31-12-2014. Whereas the government of Sindh to facilitate all permits and consents including land acquisition, mining license for Thar Coal Blocks, implementation agreement of concession from Government, Semi Govt and Non Government Organizations.

Talking on this occasion, The Chief Minister Sindh Syed Qaim Ali Shah said that province Sindh needs to develop energy sector, coal mining and textiles industries for domestic consumption, consequent export and economic well being of people of Sindh.

He said that Sindh has great potential for all these three sector specially through utilization of Thar Coal fields. Besides Sindh has good potential in Agriculture fields and needs more expertize to get more per acr yield and its proper utilization, marketing throughout world.

The Advisor to Chief Minister for Finance Syed Murad Ali Shah while talking to Media men said that Sindh wants to resolve the energy crises within its own resources including qualitative reserves of Coal, Gas and Power full wind corridor.

He said that so far meeting out the challenges of energy crises is concern of the Federal Government as well as Sindh Government. while responding a questions the Advisor for Finance said that these Turkish Companies to start their work by Dec;2014 to produce from 200 mw to 10,000 mw electricity in phases .He said that after starting work at site at least 3 to 4 years would be required to get 1st electricity production . He said that Sindh Government was actively working to overcome the energy crises.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +9221 99202019
Cell: +92300-3524057 (Ext: 336)

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