Qatar Investment Authority Keen to Invest in RLNG Power Plants
Islamabad: According to press reports, the Qatar Investment Authority (QIA), through its advisor JP Morgan, intends to invest in the Regasified Liquefied Natural Gas (RLNG) power projects of Haveli Bahadur Shah and Balloki. In this context, a powerful team met with Mohammad Mian Soomro, the Federal Minister for Privatization.
According to the sources, the delegate mentioned QIA’s interest in the operation of National Power Parks Management Company (NPPMCL)-owned and -operated power plants that utilize RLNG-based combined cycle H9 technology. The minister told the delegates of the government’s plans for circular debt reduction and the participation of local banks in debt servicing.
In addition, he informed the delegate that the council of common interest (CCI) had accepted the privatization plan and that the project would be forwarded to the Executive Committee of the National Economic Council (ECNEC) for final approval and costing. In addition, the commission collaborates with the Punjab government on land use matters to make the project more attractive to investors.
Notable is the fact that the government has authorized the privatization of loss-making public firms. In April 2020, the government received 12 prequalification offers from diverse private firms for the privatization of RLNG projects. However, the impending COVID-19 issue caused the administration to shelve the project.
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