Report Company
Nishat Chunian Power Limited
Nishat Chunian Power Limited (the Company) is a public limited Company incorporated in Pakistan under the Companies Ordinance, 1984. It was listed on the Karachi and Lahore Stock Exchanges on 22 October 2009.
The principal activity of the Company is to build, own, operate and maintain a fuel fired power station based on Reciprocating Engine Technology having gross capacity of 200 MW ISO in Jamber Kalan, Tehsil Pattoki, District Kasur, Punjab, Pakistan and to generate, sell and supply electricity. As per terms of the Power Purchase Agreement (PPA) with National Transmission and Dispatch Company Limited (NTDCL), the required Commercial Operation Date of the power project was 30 June, 2010. At the balance sheet date, the power project was under testing and commissioning and had not commenced commercial operations. The Commercial Operations date was subsequently declared on July 21, 2010 with a delay of 21 days only from the committed date of June 30, 2010.
The plant has been procured from Wartsila Finland, who together with Wartsila Pakistan was also the turn key EPC contractor for the project. The Operations and Maintenance Agreement is also with Wartsila Pakistan.
The project has been financed in 80:20 debt equity ratio with Nishat (Chunian) Limited (NCL) as the principal sponsor. The debt has been raised from a consortium of local banks.
The principal activity of the Company is to build, own, operate and maintain a fuel fired power station based on Reciprocating Engine Technology having gross capacity of 200 MW ISO in Jamber Kalan, Tehsil Pattoki, District Kasur, Punjab, Pakistan and to generate, sell and supply electricity. As per terms of the Power Purchase Agreement (PPA) with National Transmission and Dispatch Company Limited (NTDCL), the required Commercial Operation Date of the power project was 30 June, 2010. At the balance sheet date, the power project was under testing and commissioning and had not commenced commercial operations. The Commercial Operations date was subsequently declared on July 21, 2010 with a delay of 21 days only from the committed date of June 30, 2010.
The plant has been procured from Wartsila Finland, who together with Wartsila Pakistan was also the turn key EPC contractor for the project. The Operations and Maintenance Agreement is also with Wartsila Pakistan.
The project has been financed in 80:20 debt equity ratio with Nishat (Chunian) Limited (NCL) as the principal sponsor. The debt has been raised from a consortium of local banks.