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Power plants for Pakistan
An agreement between the Atlas Group and the Pakistani government regarding the legal framework was now signed in the presence of Prime Minister Shaukat Aziz and the Chairman of MAN Diesel’s Executive Board, Dr.-Ing. Georg Pachta-Reyhofen, in Islamabad.
"The cooperation covers the development, design, construction and maintenance of four turnkey diesel power plants from 120 to 225 MW in size, to be completed by 2012“, says Dr.-Ing. Georg Pachta-Reyhofen, summing up the key aspects of the partnership. The four power plants are all to be built in the north of Pakistan, near the city of Lahore.
The first plant for which the contract has already been signed will go live in Sheikhupura in March 2009. MAN Diesel is supplying 11 type 18V48/60B engines for this power station with an output of 225 MW. The order includes not just the turnkey plant, but also an operating and maintenance contract lasting 10 years, to be carried out by MAN Diesel North America. The order volume for this first stage is about 200 million euros.
As part of the strategic partnership, MAN Diesel will be responsible for construction and operation, while the Atlas Group will configure economic and financial aspects. The project will be exclusively financed by Pakistani banks. For the construction work, MAN Diesel will rely as much as possible on cooperation with local partners. The relationship between the two companies has existed for more than twenty years. Shirazi Trading Company (Pvt.) Ltd, the Pakistani agency of MAN Diesel, belongs to the Atlas Group.
Growing energy needs
The overall project stems from an initiative by the Pakistani government to meet the country's growing energy needs. On 19th June, Dr.-Ing. Georg Pachta-Reyhofen, Chairman of the Executive Board of MAN Diesel, and Dr.-Ing. Stefan Spindler, MAN Diesel Board Member responsible for the power plant business, met with the Pakistani President, General Pervez Musharraf, and Prime Minister Shaukat Aziz. Further possibilities for investing in Pakistan were discussed at the talks. A planned German-Pakistani Chamber of Commerce, the founding of which was agreed in May during a visit by the German Foreign Minister Frank-Walter Steinmeier, could help cement trade relations between the two countries still further. Germany is Pakistan's second largest trading partner in Europe.
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