Karachi Electric Company (K-Electric) manages to secure a total of approximately 100 million dollars for financing in the network sector. The amount was received from Dutch Development Bank FMO and was announced during a signing ceremony held at The Hague, Netherlands. The amount was secured in order for the betterment of already present transmission networks and the possibility for creation of new wider networks to enhance the transmission and distribution of a reliable, safe and uninterrupted power supply.
The ceremony was attended by head of treasury and corporate finance Muhammad Farrukh who represented KE on the occasion, Ariane Ducreux, head of power and infrastructure division at Proparco and Huib-Jan de Ruijter, the Chief investment officer of FMO.
A part of this major investment will be used to meet the consumer demands as the demand of energy in urban areas does not elevate evenly. The funds will be used to extend the infrastructure and provide energy to the areas where it was unserved previously. This will increase the amount of customers for the company and the current transmission network will be increased to reach farther areas and provide them with smooth electric supply.
Safety is also considered to be one of the most important requirements pf the system. A part of the fund will be used to invest on the safety and security of the general public from the hazards regarding this system. Approximately 12,000 PMTs of KE’s distribution high loss network has already been converted to insulate Aerial Bundled Cables which provide power with safety. Methods will also be induced to remove illegal hook connections for the protection of general public. The funds will also be used to introduce a better system to enable the company to draw additional power from the national grid in order to fulfill the demand and need of the customers which is observed to be increasing day after day. Moreover, the power will also be supplied to the remote areas and area of Balochistan that is licensed to the company
