International Finance Corporation to assist development of 22MW bio-gas project in Pakistan
World Bank Group member International Finance Corporation will play an advisory role for the development of a 22MW waste-to-energy plant in Karachi, Pakistan.
Karachi Organic Energy (KOEL), a joint venture of Karachi Electric Supply and the Amman Foundation is the construction contractor for the project and will receive advice from IFC on the project development and financing.
Proposed to be located in Landhi, a district of Karachi, the plant will employ animal waste that is currently discharged into the sea and is proving to be environmental concern for the region.
Commenting on the developments Karachi Electric Supply CEO Tabish Gauhar remarked that the bio-gas project is important both from an environmental and clean power generation stand-point.
IFC Director for the Middle East and North Africa Mouayed Makhlouf added, "Pollution in Pakistan creates environmental and health problems and this plant will not only help address those issues but it will also contribute electricity to Pakistan's power grid."
The project will be IFC's first clean energy advisory services project in the Middle East and North Africa besides providing a blueprint for future projects in the region.