The cost of conversion of 500 kV switching station, located at Naushehro Feroze Sindh, into 500 kV substation has risen exponentially due to the recent devaluation of Rupee. The cost has been driven up by almost 1 Billion rupees. The main objective of the project is conversion of 500 kV switching station at Moro which is under implementation to 500 kV substation to meet the growing power requirement of Sukkur Electric Power Company (SEPCO) region including 132 kV grid stations at Kandiaro and Naushahro Feroz in the jurisdiction of SEPCO.
The original PC-1 of the project had put the total cost of the project at Rs.5.404 billion with the foreign exchange component (FEC) of the project coming around to almost Rs.3.6 billion, which was estimated at Rs.115.4 per dollar in the original PC-1. The update cost of the project showed that the total cost of the project now stood at Rs.6.331 billion with its FEC standing at Rs.4.269 billion by estimating it Rs.138.39 per dollar. The local component of financing for the project also increased to Rs.2.062 billion in the updated cost compared to original PC-1, which indicated it at Rs.1.844 billion.
