ISLAMABAD: The government is set to grant Host Country Approval for amended guarantee coverage in favor of a new investor for the 100MW MIRA Power Limited hydropower project in Azad Jammu and Kashmir (AJ&K), sources from the Private Power and Infrastructure Board (PPIB) revealed.
At a recent PPIB meeting, Managing Director Shah Jahan Mirza briefed attendees on the exit of one of MIRA Power’s shareholders, Sambu Construction, and the upcoming transfer of DAELIM’s shareholding to its affiliate, DL E&C. The Power Division and other key ministries are currently reviewing the proposal, with approval expected soon.
This move aims to ensure smooth continuation of the project, commissioned in March 2020, under the amended shareholding structure.
Story by Mushtaq Ghumman
