PACRA Assigns Initial Rating to Lucky Electric Power Company Limited – PPCP – PKR 6 billion – May-22
Lahore, September 06, 2022 (PPI-OT):Lucky Electric Power Company Limited (Lucky Electric or The Company) has set up a 1x660MW (gross) coal fired power plant. The project achieved COD in March-22 and is successfully connected to and providing electricity to the grid. The primary fuel is Coal; a coal supply agreement is signed with Sindh Engro Coal Mining Company (SECMC), SECMC will provide the coal from its developing Block-II (Phase III). The Company has also signed imported coal supply agreement with reputable coal suppliers.
Currently, plant is generating electricity through imported coal. Comfort is drawn from the experience of O and M contractor – KEPCO. Going forward, the Company’s main focus would be to keep the plant operational. The Company has procured short term financing f...