US-based Matrix Group (MGCL) will construct two power generation plants, 250MW each at Port Qasim and Karachi Port at an estimated cost of USD 1 billion. The two powers generation projects, which would be completed in two different phases would collectively add 500MW to the shortage stricken national grid in the Phase-1 that would be expandable to 500MW more in future. Chairpersons of the two port operators Talpur and Haque said that MGCL would finance the development of two facilities near Mauripur belt and Bin Qasim Thermal Power Plant at KPT and PQA respectively over the next 2 years. To make the project cost effective, the PQA plant would run on coal, while the one to be built at Karachi Port would consume wind energy. The project, as per the agreement would be carried out on 50:50 basis in which the foreign firm would provide the funds, while PQA and KPT will contribute land. The start up of work on the projects, to be undertaken on fast track basis would, however, be subject to the approval of government of Pakistan. According to representatives of KPT and PQA, the two facilities, which had a target to produce 870MW electricity by 2050, will also cater for the load shedding hit city in line with the corporate responsibility of the two port operators.
