Bids have been invited on a series of packages for a privately owned 412-MW combined-cycle power plant in Punjab. The $500 million plant is being constructed on a build-own-operate basis by Rousch (Pakistan) Power, set up by a US joint venture called Rousch Finance. The engineering, procurement and construction (EPC) contract was initialled by Germany’s Siemens Power Generation in August (MEED 10:6:95).
Nine packages are being tendered, with bids due on 30 October. The packages include civil works, supply and commissioning of heat recovery boilers, erection of turbines, supply and commissioning of high-voltage transformers and supply and erection of switching systems. Construction is expected to begin in February 1996, and will take about 25 months.
About 20 per cent of the cost will be in the form of equity, with a further $200 million expected from the US’ Export-Import Bank (Ex-ImBank), other export credit agencies and the World Bank. The balance will be made up with commercial loans.
The project is one of several private power schemes being promoted by the government. Under a pricing agreement with the Water & Power Development Authority, each kWh produced will be bought for $0.065, or $0.090 if the plant is completed before 1997.
Siemens is now commissioning 400 MW of additional capacity installed at the Kot Adu power plant, which the government also plans to open to private sector investment. However, the privatisation plans are being obstructed by opposition from the 800 workers at the plant (MEED 15:9:95).