BLOCK-I: Sino Sindh Resources Pvt. Ltd.
- Sino-Sindh Resource (Pvt.) Ltd (SSRL) has acquired Mining Lease in Block-I of Thar Coalfield on 24-05-2012 and Bankable Feasibility has completed in March, 2012.
- SSRL is going to establish an open-pit coal mine for 6.5 MTPA in Thar Block-1 and two mine mouth 2 x 330 MW Power Plants to be operated on indigenous coal i.e Lignite. Initially the mine would have capacity of 6.5 mtpa, to be scaled up to 20mtpa. This project is included in the Early Harvest Projects under China-Pakistan Economic Corridor.
- Sino-Sindh Resources (SSRL) and Shanghai Electric Group Co., Ltd (SEC) have initialed a Coal Supply Agreement, in which SSR will extract coal from Block-I and supply to SEC for power generation through 2 x 660MW mine mouth power plants.
- China Coal Technology and Engineering Group Corp, (CCTEG) has been formed by SINOCOAL is going to take over majority stake in mining part of project for 7.8 mta mine at Thar Coalfield Block-I by SSRL.
- SSRL says contingent upon Financial Close which is due in Q4 2016, mine commercial production is expected by Q1 2018.
- ESIA has been completed by EMC, on the basis of which NOC has been acquired from SEPA
- Renowned Chinese EPC Contractors have been appointed to initiate developmental & civil works who has committed to complete mine within 27 months
- Land & Socioeconomic survey completed
- Feasibility stage coal tariff petition submitted to TCEB, Awaiting TCEB’s coal price
- Infrastructure pertaining to roads, and airport being completed by Government of Sindh
- Development of human capital entails selection of experienced expats. Owner consultant has been finalized
- LOI from ICBC & Sinosure at place for mining
- Application for Upfront Tariff for Power Plant submitted to NEPRA
- Negotiations underway with ICBC & CDB which are the institutions having shown willingness in providing necessary debt financing.
- Chinese EPC contractors have provided firm commitment for equity participation
- Remaining equity has already been committed by project sponsors
According to the SSRL Petition, total Project Cost is estimated to be USD1.237 billion, to be funded by a 75-25 Debt-Equity ratio.