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PSO, Atlas Power ink supply accord

September 13, 2007

PSO, Atlas Power ink supply accord
 
Karachi September 13, 2007: Atlas Power Limited (APL) and Pakistan State Oil (PSO) have entered into a fuel supply arrangement for APL’s planned 213 MW Independent Power Project (IPP).

The document was initialed at a ceremony at PSO House. The Group Director Strategic Planning & CEO Atlas Honda Pakistan Limited, Mr. Saquib H. Shirazi, and Managing Director & CEO of Pakistan State Oil Company (PSO), Mr. Jalees Ahmed Siddiqi, represented the two sides.

Under the arrangement, PSO will provide total furnace oil requirement of 213 MW for Atlas Power plant located at Lahore - Shaikhupura Road. This is significant in the backdrop of growing energy demand of the country and also due to the fact that during last 11 years this is the first agreement initialed between an IPP and PSO.

Mr. Kalim A. Siddiqui, Executive Director - Customer Services, PSO, Mr. Yacoob Suttar Executive Director - Finance & IT, PSO, and Mr. Maqsood A. Basra, CEO, Atlas Power Limited, along with senior officials of both organizations were present.

Atlas group is a leading business house in Pakistan having diversified portfolio consisting of automobile, engineering, financial and trading services. The arrangement endorses PSO’s strength as leading energy company and its commitment to the energy sector of Pakistan.
The Group Director Strategic Planning & CEO Atlas Honda Pakistan Limited, Mr. Saquib H. Shirazi (L), and Managing Director & CEO of Pakistan State Oil Company (PSO), Mr. Jalees Ahmed Siddiqi ( R ), exchanging documents of fuel supply arrangement for Atlas Power Limited's planned 213 MW Independent Power Project (IPP). Senior officials from both the organizations are also present.
 

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