Pakistan
Saba Power Company Limited
$5 million
Power
Project Brief
Not Active
MIGA issued coverage to Cogen Technologies Saba Power, L.P. of the United States for its investment in the construction and operation of a 115-megawatt power plant near Farouqabad. MIGA guarantees totaling $5 million will cover a portion of Cogen's $22 million equity investment against the risks of expropriation, transfer restriction, and war and civil disturbance.
The project enterprise, Saba Power Company Limited, will provide a much-needed increase in electricity in the region and reduce the dependence on hydropower. The project will employ 400 workers during construction and will create more than 90 permanent jobs. The enterprise will also contribute to the local infrastructure by building access roads and facilities.