International Power to build Pakistan Plant

International Power will build the Uch II, an extension of the existing 572MW Uch plant in Pakistan.

The 375MW CCGT extension will be developed by International Power under an EPC contract with Hyundai Engineering Company and Descon Engineering, and will include two GE9E gas turbines and one steam turbine.

The gas-fired power project, to be wholly owned by International Power, is expected to be operational by 2013.

The construction of the facility, expected to cost US$480 million, will be funded in a debt equity ratio of 75:25, of which the company's equity investment of US$120 million will be funded from current liquid resources.

Other multilateral and bilateral agencies included Asian Development Bank, International Finance Corporation, Korean EXIM and the Islamic Development Bank, which will fund the remaining debt of $360 million.

The National Transmission and Despatch Company has signed a 25-year purchase agreement with International Power to buy the electricity generated from Uch II.