Nishat Chunian Power Ltd.http://www.nishat.net/nishat_chunian.htm
The Group Comprises of Nishat (Chunian) Limited as holding company and NishatChunian Power Limited as its wholly owned subsidiary. Nishat (Chunian) Limited is a public limited company incorporated in Pakistan under the Companies Ordinance, 1984 and is listed on the Lahore and Karachi Stock Exchanges. Its registered office is situated at 31-Q, Gulberg II, Lahore. The Company is engaged in business of spinning, weaving, dyeing, stitching, processing, doubling, sizing, buying, selling and otherwise dealing in yarn, fabric and made-ups made from raw cotton, synthetic fibre and cloth and to generate electricity for internal use.
Nishat Chunian Power Limited is an unlisted public limited company incorporated under the Companies Ordinance, 1984. The main object of the company is to set up and operate 200 MW power plant and to sell electricity to National Transmission and Despatch Company Limited. The Company has not started its commercial operation and hence no profit & loss accounts has been drawn for incorporation in group’s consolidated profit loss account. The expected project commissioning date is June 2010.
Keeping in view the energy crisis in the country, NCL has also ventured into the power business. With a capacity of 200 MW an Independent Power Plant (IPP) is being set up at 66 km Lahore Multan Road. The power plant costing US$ 235 million has an operational deadline of March 2010.
Wartsila Finalnd is the EPC contractor for the project. The Fuel Supply Agreement has been finalized with Shell Pakistan; the first such supply agreement in the history of Shell Pakistan.
The plant has been set up under a 25 year ‘take or pay’ agreement with WAPDA, who is bound to make capacity payments – which are backed by the Sovereign Guarantee of the Government of Pakistan.
PROVISIONAL LISTING OF NCPL
OPEN DATE 03-09-2009