Enertech Water Secures Largest Financial Facility For Public-private Partnership Project In Sindh

In a groundbreaking move that signals a surge in infrastructure development and unwavering confidence from the banking sector, Enertech Water (Private) Limited, a subsidiary of EnerTech Holding, a Kuwaiti state-owned company, has successfully secured the largest financial facility for a public-private partnership project in Sindh

ISLAMABAD, (UrduPoint / Pakistan Point News – 4th Dec, 2023) In a groundbreaking move that signals a surge in infrastructure development and unwavering confidence from the banking sector, Enertech Water (Private) Limited, a subsidiary of EnerTech Holding, a Kuwaiti state-owned company, has successfully secured the largest financial facility for a public-private partnership project in Sindh.

This landmark achievement was marked by the signing of financing documents at a ceremony held in Karachi, said a release issued on Monday.

This momentous occasion marks a pivotal step towards financial closure, solidifying the project’s status as the largest public-private partnership financing in Pakistan. The project, which aims to implement a groundbreaking water transportation system, has garnered global recognition, earning accolades such as “Most Innovative Deal of the Year – 2021” and “Pakistan Deal of the Year – 2021” from Islamic Financial News.

The financing, spearheaded by Meezan Bank and Pak-Kuwait Investment Company, involves a consortium of eleven major Pakistani banks and provides a senior facility of PKR 51.6 billion.

This remarkable feat not only underscores renewed investor confidence in Pakistan but also signifies a flourishing relationship between the State of Pakistan and the State of Kuwait.

The award-winning project envisions the establishment of a state-of-the-art water treatment facility equipped with 45-day water storage reservoirs at Nabisar in District Umerkot, Sindh. A 61-kilometer-long pipeline will connect these reservoirs to additional 30-day storage facilities in Vajihar, District Mithi.

The project is expected to generate employment opportunities in the surrounding areas, foster sustainable development, and impart valuable knowledge to locals, ultimately enhancing the well-being of the community.

The signing ceremony was graced by the esteemed presence of Omer Soomro, Minister for Law, Religious Affairs, and Human Rights, who represented the chief minister of Sindh.

In his address, Soomro expressed his gratitude to the Kuwaiti Government for their investment in the project, highlighting its significance as the first foreign investment under a public-private partnership attracted by the Government of Sindh. He commended the unwavering efforts of those involved and emphasized the historical importance of this milestone achievement.

Also gracing the occasion were the Chief Executive Officer of EnerTech Holding Company H.E. Abdullah Al-Mutairi and Yasser Malik, Chief Executive Officer of Enertech Water (Private) Limited. H.E. Abdullah Al-Mutairi remarked, “We are immensely pleased to have reached this significant milestone.

EnerTech Holding is steadfast in its commitment to investing in Pakistan’s prosperity and will continue to undertake strategic projects in support of the Government of Sindh.”

The attendance of high-ranking officials from key financial institutions and prominent Government of Sindh officials, including Secretary of Irrigation Department Niaz Abbasi, Secretary of Energy Department Rehan Iqbal Baloch, Secretary of Law Department Ali Baloch, and Director General PPP Unit, Finance Department Asad Zamin, further underscored the project’s far-reaching impact and unwavering support.

With this landmark achievement, Enertech Water has set a new benchmark for public-private partnership projects in Pakistan, paving the way for a brighter future characterized by sustainable development, economic growth, and enhanced community well-being.


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