LAHORE: The National Bank of Pakistan and the Habib Bank on Friday offered the Punjab government to underwrite project financing, amounting to Rs84 billion for its 1,200MW LNG-based power plant at Bhikki in Sheikhupura.

Bhikki LNG project is first of its kind project, and the presidents of the two banks made the offer during their meeting with Punjab Chief Minister Shahbaz Sharif.

The banks resolved to work with other financial institutions to raise financing in the shortest possible time. The planned financing is the single largest funding for an energy project, which has been domestically raised. The plant will be operated on imported LNG and shall start operation in 2017.

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