ISLAMABAD: A sum of Rs 2,123.245 million mobilisation advances have been recovered from Dongfang Electric Corporation Limited by Northern Power Generation Company Limited (NPGCL) the other day.
According to a press release, the contract for constructing 525 MW Chichoki Mallian Power project was signed between Northern Power Generation Company Limited (NPGCL) and Dongfang Electric Corporation Limited (DECL), China on April 1, 2008.
The total value of the contract was US$ 345.450 million. Mobilization advance equal to 10 percent of contract value was paid to DECL in August 2008, said a press release.
The physical wok of the power project could not be started till 2015. In May 2015, the ministry of Water and Power decided to close the 525 mw Chichoki Mallian Project and recover advance payment from DECL.