Deadlock in commissioning of Matiari-Lahore HVDC transmission project

ISLAMABAD: In the latest development, Chinese company Pak Matiari- Lahore Transmission Company (PMLTC), which completed ±660kV Matiari-Lahore HVDC Transmission Project with investment of $2.2 billion in two years time, has threatened to move the international arbitration court against the government-owned company National Transmission Dispatch Company (NTDC) for creating hurdles in the commissioning of the project. The Chinese company has asked the board of directors of NTDC to hold a meeting and give it an opportunity for briefing on the causes of oscillation that happened on December 2, 2020 during the…

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CPEC’s Thar Coal Block-1 project making rapid progress: Li Jigen

KARACHI: The Thar Coal Block-1 project, which is an important part of China Pakistan Economic Corridor (CPEC), is making rapid progress despite all odds, says a top official. At the office relocation ceremony of Sino Sindh Resources Private Limited (SSRL), Li Jigen, Chief Operating Officer of SSRL, a subsidiary of Shanghai Electric, said that despite the Covid-19 pandemic and other obstacles, the mega project in Thar has picked up pace in recent times. Tariq Shah, Sindh Energy Secretary, Meng Donghai, CEO of Thar Coal Block-1 Power Generation Co and Li…

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Feat of engineering achieved at Jagran-II HPP

KARACHI: A landmark achievement has been accomplished at Jagran – II HPP where FWO devised a strategy to excavate the upstream with downstream portions of the Main Headrace Tunnel by carrying out excavation from both ends in opposite directions and meeting in the middle. This happened on 27 January 2021 when the milestone of meeting the two tunnels with a tolerance of less than 10 centimetres, was achieved successfully – this has never been done before in Pakistan. FWO, while maintaining its professional integrity and credibility, has excavated 1.88 kilometres…

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Nigeria’s mining authorities to revoke 3,000 mineral titles

Federal mining licensors at Nigeria’s Mining Cadastre Office (MCO) are looking to February 12 to commence the revocation of some 2,763 mineral titles whose holders have failed to pay outstanding yearly service fees in a new aggressive revenue drive designed to swell government’s coffers in 2021. The titles at risk of federal axe represent 25 per cent of the total 10,959 mining operators registered in Nigeria, according to data from the Ministry of Mines and Solid Minerals Development as of December 31, 2020. An MCO report spelling out this plan, issued from…

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Govt hopes to seek $12b from World Bank

Pakistan expects to secure around $12 billion loans from the World Bank Group over a period of five years under a new partnership strategy, which the Washington-based lender may approve by May this year. Minister for Economic Affairs Makhdoom Khusro Bakhtiar and World Bank Country Director Najy Benhassine discussed the development priorities of Pakistan for the next five years, according to a handout issued by the ministry after the meeting. A senior ministry official said that there were no firm financial commitments by the World Bank at this stage. He…

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SHC seeks reports on action against vegetable farming with sewage

The Sindh High Court (SHC) on Monday directed the deputy commissioners of the Malir and Korangi districts to submit progress reports with regard to action against persons involved in farming vegetables through sewage. Petitioner Mehmood Akhtar Naqvi had submitted that several people were involved in vegetable farming through sewerage water in the Korangi, Malir, Landhi and Surjani Town areas. He submitted that due to vegetable farming through sewage, the lives of the citizens were at risk of several diseases and the government functionaries were not taking action against such persons.…

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RLNG supply to KE’s new unit: PD directed to play role in signing of pact

ISLAMAABAD: The Cabinet Committee on Energy (CCoE) has directed Petroleum Division (PD) to play its role in accordance with the relevant laws/rules in signing required agreement(s) with PLL and KE for RLNG supply to KE’s new unit while ring fencing old KE receivables issue related to indigenous gas supply, sources close to SAPM on Petroleum told Business Recorder. The decision was taken at a meeting of the CCoE held on January 18, 2021 under the chairmanship of Minister for Planning, Development and Reforms, Asad Umar. The decision of the committee…

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CCI likely to approve Census-2017 on 27th

SLAMABAD: The Council of Common Interests (CCI) is likely to approve the controversial Census-2017 at its meeting to be held on Wednesday (Jan 27) with Prime Minister Imran Khan in the chair. The PM has called the 44th meeting of the CCI to discuss various issues, including the issue of notification of Census-2017 results. The federal cabinet, after a lapse of three years, had approved the National Census with a dissenting note submitted by the Muttahida Qaumi Movement (MQM), one of the government’s allies. The MQM has been raising its…

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Natural Gas Prices Plunge On Warmer Weather Trends

As soon as Goldman Sachs gets bullish on natural gas, new weather models are forecasting warmer weather trends for the next two weeks. As a result, NYMEX Henry Hub natgas February futures have plunged 5% Tuesday morning.  The plunge in natgas futures come on milder forecasts for the US, which means heating demand will wane over the next two weeks than previously expected.  “That decline came even though liquefied natural gas (LNG) exports remained near record levels and last week’s storage draw was slightly bigger than expected,” said Investing.com’s Ajay Kedia.  Kedia said, “US natural…

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SpaceX To Repurpose Oil Rigs For Launch Pads

SpaceX plans to use two deepwater oil rigs as offshore floating spaceports that the company will likely use for the Starship rockets it is developing. CNBC’s Michael Sheetz reports, citing public documents, that now-bankrupt offshore rig operator Valaris sold two rigs, 8500 and 8501, for $3.5 million each. The deal was completed in July last year, and Valaris—the world’s largest offshore drilling rig operator—filed for Chapter 11 bankruptcy protection soon after. The buyer of the rigs, according to the CNBC report, was a limited liability company named Lone Star Mineral Development,…

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