ASIA NEWS NETWORK
WE KNOW ASIA BETTER
Chinese firm to set up four power projects in Pakistan
Publication Date : 01-08-2013
A Chinese energy company has identified four energy projects in Pakistan for immediate investment, but has informed the government that the start-up of these projects would depend on tariff approval from Pakistan's National Electric Power Regulatory Authority (Nepra).
As a follow-up to the recent visit of Pakistan's Prime Minister Nawaz Sharif to China, the Vice President of the China Power Investment Corporation, Zhiyig Wang, is in Islamabad, heading a 15-member delegation, and has started deliberations with officials of Pakistan's ministry of water and power, Board of Investment (BoI) and the planning commission.
During his meeting with BoI Chairman Mohammad Zubair on Tuesday, Wang said the China Power Corporation is ready to invest in four power projects.
Explaining the proposed projects, he said the capacity of two coal-based power projects, to be set up in coal-mining desert Thar, would be 900 megawatts each, with a total investment of US$2.12 billion and would produce 10 million tonnes of coal per year.
The projects would depend on the mining activities in Thar as the company intends to start coal production by 2015 and power generation by 2015-16. He said the corporation would set up a 660-megawatt power plant in Lahore and would engage with the Punjab government for development, investment, construction, operation and management of the power plant.
The fourth project would be a 300-megawatt solar power project based in Bahawalpur, Punjab.
In addition, the corporation has also planned a 500 to 1000-megawatt wind energy project and the site for this project would be decided by the federal government.
The Chinese corporation is one of the five largest state-owned electricity producers in China, and is also involved in the coal, power, aluminium railway and port industries.
It supplies 10 per cent of the power supply to the country and installed 80,074 megawatts by the end of 2012.
Zubair said, “Pakistan welcomes investors to make their businesses a success, and the BoI has been mandated to play an important role in administrating and implementing the government’s foreign direct investment policy.”