China reveals prospect of extensive investment in Pakistan power infrastructure

• 13 years ago (2011-04-09)
• Junior Isles

Asia 859 Renewables 757

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China has revealed it is keen to invest $10 to $15 billion in developing the Pakistani power sector .

Cao Guangjing, the head of Three Gorges Corporation, the Chinese state owned corporation dealing with construction of power infrastructure said his company wants to work closely with Pakistan for the development of its energy sector.

Pakistani Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh said this was the beginning of a new era of cooperation between Pakistan and China.

He briefed a Chinese delegation at a meeting regarding the prevalent rules and laws for bidding in Pakistan and would ensure that bidding for the many projects should be made in a transparent manner.

The projects that were discussed in the meeting were Kohala Hydro Power, Bhunji, Bhasha, Dashu in Upper Indus Valley, and other hydro projects in lower Indus valley.

China Three Gorges Power Corporation (CTGPC) recently signed an agreement with a private Pakistani firm, Associate Technologies (Private) Limited to invest $1.2 billion in the 720 MW Karot hydro project. The Karot project is the first time that a Pakistan private company had signed an agreement with a state owned Chinese enterprise in the power sector, and is to help Pakistan to overcome loadshedding problem.

The minister also offered the Chinese Corporation opportunities to invest in the Thar Coal power project as well as large scale manufacturing of solar panels and wind energy turbines in the country.

Guanging said Karot Hydropower Project was a very important project and would help in resolving Pakistan’s energy problems. He said his corporation was looking for more investment in Pakistan.

Spokesperson to the President Farhatullah Babar said other ongoing hydro electric projects being undertaken by the CTGPC include Karot, Taunsa, Kohala and Bunji hydro electric projects.