Sindh Engro Coal Mining Company
Pakistani Mining Company
From Wikipedia, the free encyclopedia
Sindh Engro Coal Mining Company (SECMC) is an unlisted Pakistani coal mining company headquartered in Karachi.
| |
Company type | Unlisted public company |
|---|---|
| Industry | Coal |
| Founded | 2009 |
| Headquarters | , Pakistan |
Area served | Sindh |
Key people | Amir Iqbal (CEO) |
| Revenue |  Rs. 109.407 billion (US$390 million) (2023) |
| Rs. 29.160 billion (US$100 million) (2023) | |
| Total assets | Rs. 232.904 billion (US$830 million) (2023) |
| Total equity | Rs. 81.490 billion (US$290 million) (2023) |
| Owners | Government of Sindh (54.70%) Thal Limited (11.90%) Liberty Textile (11.90%) Hubco (8%) Habib Bank Limited (9.5%) Huolinhe Open Pit Coal Investment (8.5%) CMEC Thar Mining Investments (4%) |
| Parent | Government of Sindh |
| Website | secmc |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
It was established in 2009 as a public-private partnership between the Government of Sindh and Engro Powergen, a subsidiary of Engro Corporation, for the development of coal mining and power generation projects in Block II of the Thar coalfield in Tharparkar.[2] The Government of Sindh holds a majority stake of just over 51 percent, while other private sector partners collectively hold the remaining 49 percent.[3]
Projects
SECMC projects include's under construction 660MW of power plant when completed in 2017. Its flagship project is based on 75:25 debt to equity ratio. The company raised $900 million from Chinese banks, $300 million from a Pakistani banking consortium and the remaining $400 million from sponsors.[4][5] SECMC is establishing another 600MV plant in partnership with State Power Investment Corporation.[6]
It would in total produce 3,960MW of electricity, in six phases, from the coal in Block II of the project. The first phase of 660MW would be completed within three and a half years, while a new unit of 660MW each would be added subsequently. A sum of $1.6 billion with $800 million component for the open pit mining and $800 million for the power plant have been invested in the project.[7]
