Pak main ben­e­fi­ciary of OB-OR Ini­tia­tive of Chi­nese Govt Chi­nese com­pany lead­ing in­vestor in 1320MW Coal fired power plant at Port Qasim

Pakistan Observer - - ECONOMY WAYCH -

Cur­rency Sell­ing Buy­ing OB­SERVER RE­PORT BEI­JING—Sec­re­tary Min­istry of Wa­ter and Power Muham­mad Younus Dagha has said that Pak­istan is of the early re­cip­i­ents of the OneBelt-One Road ini­tia­tive of Chi­nese Pres­i­dent Xi Jin­ping and the Govern­ment of Pak­istan has de­vel­oped a pol­icy frame­work, which is flex­i­ble enough to pro­vide for all forms as­sis­tance to the ini­tia­tive. He was ad­dress­ing In­ter­na­tional In­fra­struc­ture In­vest­ment Fo­rum 2016 at Bei­jing, China on Thurs­day.

The Sec­re­tary said that Chi­nese Govern­ment’s Belt and Road ini­tia­tive is a right step in the right di­rec­tion. He said that AIIB (Asia In­fra­struc­ture In­vest­ment Bank), is yet an­other ini­tia­tive by China, which will pro­vide ac­cess to con­ces­sional fi­nanc­ing for high­pri­or­ity in­fra­struc­ture projects which may not be of in­ter­est to com­mer­cial in­vestors.

“We are work­ing with many in­ter­na­tional in­vestor com­pa­nies which are pro­vid­ing elec­tric­ity to the Grid on Built-Op­er­ate-OwnTrans­fer ba­sis since 1990s and early years of this cen­tury”, he added. The Sec­re­tary said the ef­fec­tive­ness of Pak­istan’s pol­icy frame­work can be judged from the cur­rent sit­u­a­tion where the Chi­nese con­trac­tors are en­thu­si­as­ti­cally bid­ding for all cat­e­gories of the in­fra­struc­ture projects in Pak­istan, from Roads to Rail­ways and from Coal Power Plants to the clean en­ergy projects. They are now ac­tively work­ing with us to ex­tend the scope of their in­volve­ment into Tele­com and Trans­mis­sion projects, he added.

Dagha said that when Pak­istan’s econ­omy was strug­gling with the challenge to fi­nance power plants to meet the large en­ergy deficit in 2013, the Chi­nese govern­ment of­fered the China-Pak­istan-Eco­nomic-Cor­ri­dor (CPEC) ini­tia­tive worth 46 bil­lion US Dol­lars, through which the Chi­nese Govern­ment, its com­pa­nies and con­trac­tors will in­vest or get fi­nance for all types of in­fra­struc­ture projects which in­cludes 10400 MWs from 14 power projects (rang­ing from Coal to Hy­dro-elec­tric as well as wind and so­lar), Gas pipe­line, Sea port, Air­port, Rail­ways and Roads.

This in ad­di­tion to the al­ready on-go­ing projects in Pak­istan, both in pub­lic and pri­vate sec­tors, pro­vide at­trac­tive op­por­tu­ni­ties for the Chi­nese con­trac­tors, he added.

The Sec­re­tary said that it is then not sur­pris­ing that a Chi­nese com­pany is the lead­ing in­vestor in 1320MW Coal fired power plant at Port Qasim and at the same time an EPC con­trac­tor at a Pub­lic Sec­tor 1200 MWs Gas-based Power Project at Haveli Ba­hadur Shah.

An­other Chi­nese com­pany is be­com­ing the largest IPP (In­de­pen­dent Power Pro­ducer) in Pak­istan by its three projects on Jehlum River cas­cade which will bring more than 3000 MWs of Clean hy­dropower and also 200MWs of Wind projects un­der con­struc­tion.

He said that there are nu­mer­ous Chi­nese Com­pa­nies which are cur­rently work­ing in Pak­istan since past sev­eral years and have found the ex­pe­ri­ence im­prov­ing with ev­ery new pol­icy frame­work.

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