ISLAMABAD: The Fauji Fertiliser Company (FFC) on Wednesday entered into a strategic alliance with the Hub Power Company Limited (HUBCO) to set up a 330MW coal-based power plant in Thar. The announcement came after the FFC Board of Directors’ meeting held in Rawalpindi on Wednesday. The power plant would be based on indigenous coal to be mined from the coal fields of Thar Block-II. Commenting on the joint venture with HUBCO, FFC Managing Director Lt Gen (r) Shafqaat Ahmed said that the project would help address power shortfall in the country by utilising local coal, besides adding value to the company’s long-term investments in the best interest of its shareholders. He said that both the FFC and HUBCO were well reputed and internationally recognised corporate entities with extremely high business and financial credibility. He said that the strategic partnership would open up new avenues of business growth, and added that the excellent financial position, credibility and best business practices of the two corporate giants would provide synergy and confidence for all stakeholders. He said that the ground work on the site had already commenced and the project would begin commercial production by end of 2019.