Planning of Pakistan’s first coal-fired power plant built on a build-operate-transfer basis is well underway, according to K-Electric.

The utility – formerly known as the Karachi Electricity Supply Company (KESC) – has signed a memorandum of understanding with China’s Harbin Electric International for the development of the 660 MW plant.

The two companies will now work towards financial close. The deal is expected to help to bring in further foreign investment in Pakistan.