TharPak looking to invest $10 billion dollars in Pakistan

TharPak looking to invest $10 billion dollars in Pakistan

Saturday, January 14, 2012: TharPak, a group formed by multiple firms operating in United States, are looking to invest $10 billion dollars in Pakistan. The investment will be made in coal mining, electricity generation, and fertiliser
manufacturing in the Thar Desert in Sindh.

Hans Naumann, TharPak’s chief engineer, said “When fully built out, the cumulative capital investment for the lignite mining operations alone will likely exceed $10 billion.”

On January 5, 2012 a delegation of TharPak met with Pakistani bureaucrats in Washington DC and revealed their intentions to explore and invest in the coalfields in Thar. During the meetings all members of the group were also introduced
to Pakistani bureaucrats.

Steve Carpenter, business development director for the TharPak, believes Pakistan will hugely benefit from the project and will be able to compete with international economies.

Carpenter said “With Pakistan’s energy deficit in mind, we believe that with the combination of our deep mining and engineering expertise and the use of commercially proven clean coal combustion technologies, TharPak will deliver
a solution to what is holding Pakistan back from competing on a level playing field in the global economy; dependable, abundant and affordable energy.”

TharPak plans to set up a “mega energy complex” in Sindh that would mine about 100 million tons of coal per day to feed a Direct Coal-to-Liquids plant that could replace up to 80,000 barrels per day of oil imports.

In addition, the complex would include power generation capacity of up to 6,000 megawatts as well as a fertiliser manufacturing facility that would have an as yet unspecified capacity to produce urea.

Officials of TharPak claim that these industrial processes will be supported by a carbon capture and storage program, and a liquefied carbon dioxide production and transportation system for sale to enhanced oil recovery projects.

Thar Coal Reserve of Sindh is estimated to be about 9,629 (Million Tonnes). These amounts of reserves are enough to feed the countries energy demand for years to come.

Short URL: https://www.newspakistan.pk/?p=9320

Posted by Wajahat Javed on Jan 15 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry