KARACHI: Thal Limited, a House of Habib company, has decided to acquire a strategic interest of over 10pc equity in the Sindh Engro Coal Mining Company Limited (SECMC - Thar Coal Project) by investing up to $30 million in the company, said statement issued after the company’s board meeting here on Friday.

With the world’s 7th largest coal reserve in Thar, the House of Habib has placed confidence in the SECMC-Thar coal, the first integrated open cut mining  and power generation project, to provide the solution to the future energy needs of the country and to provide impetus for economic activity at an accelerated that will also benefit the people of Thar.–Staff Reporter

The SECMC, Thar coal project, will not only help the government to generate the cheapest power but also reduce dependency on imported furnace oil and save valuable foreign exchange.

Sindh Engro Coal Mining Company (SECMC) was established in 2009 with the primary objective of making effective use of the large coal reserves in the Thar Desert to meet Pakistan’s power generation needs, spur economic development and bring energy security to the country.