KARACHI: Sindh Engro Coal Mining Company (SECMC) has signed an Islamic Facility Agreement with Meezan Bank Limited to finance Phase III of the Thar Block II coal mine expansion. The syndicated facility—comprising Meezan Bank (lead arranger), United Bank Limited, Askari Bank, Sindh Bank, and Pak China Investment Company—will support increasing coal production from 7.6 million tons per annum (MTPA) to 11.2 MTPA.
This milestone is part of SECMC’s continued journey under the leadership of the Government of Sindh. Since its inception in 2019, SECMC has demonstrated the commercial viability of Thar coal, enabling power generation through indigenous resources. The expansion will also facilitate the conversion of the 660 MW Lucky Electric Power Company (LEPCL) to Thar coal, further bolstering Pakistan’s energy security.
Amir Iqbal, CEO of SECMC, expressed gratitude to the Government of Sindh, Meezan Bank, and all stakeholders, highlighting this agreement as a step closer to delivering affordable electricity through local resources. He emphasized SECMC’s broader vision to energize Pakistan’s future through sustainable, world-class mining.
To date, SECMC powers over 3 million households and has helped save approximately \$1.6 billion in foreign exchange. Thar coal power plants consistently rank among the top on the NTDC’s economic merit order, reaffirming Thar coal as the most cost-effective baseload fuel in Pakistan.
