KE signed a memorandum of understanding with Harbin Electric International for the co-development of the coal-fired power plant, according to a company statement.
The project will be developed, constructed and operated on a built, operate and transfer basis, which will be the first project of its kind in Pakistan by a private utility company.
“This nexus between KE and HEI will not only open doors for new foreign investment in the country but will actually pioneer KE in delivering the greenfield coal-fired plant,” the KE statement said.
The statement said KE and HEI would also jointly work towards the financial close of the project.
In its initial stages the plant will remain in the hands of HEI before being handed over to KE when fully operational.