Chinese company to invest in four power projects

ISLAMABAD (Online) - China Power Investment Corp has decided to invest in four energy projects in Pakistan.
Zhiyig Wang Vice President of CPI Group stated this during a meeting with Mohammad Zubair, Chairman BOI to discuss the opportunities in power sector. The company was invited by the Prime Minister Mian Nawaz Sharif during his visit to China.

BOI is mandated to play an important role in the administration and implementation of the Government’s FDI policy. It has a strong record of actively encouraging the flow of FDI into the country through speedy and transparent processing of applications, SEZ act, Investment Policy and Strategy.

We welcome investors to make their businesses a success in the most lucrative investment destination of the world, Pakistan, appraised by Chairman BOI.

During the meeting, Zhiyig Wang said that CPI is one of the five largest state-owned electricity producers in China and integrating industries of coal, power, aluminum railway and port. It supplies 10 percent of the power supply to the country and installed 80074MW by the end of 2012. He explained about the four power projects.

The capacity of the first project is 900MW and located in Thar Sindh. As per Sino Sindh Resources, the total estimate of the investment requirement to develop a 10Million Tonnes per Annum us around US $ 1. 5bn and 900MW power plant cost is US $ 1.7 bn.

The project depends on the mining work in Thar Coal. Sino Sindh intends to start coal production by 2015 and power generation by 2015-16.

A project of 660MW will be located in Lahore. CPI will be engaged with Punjab government for development, investment, construction, operation and management of power plant. A Solar project of 300MW project will be based in Bahawalpur.

500MW -1000MW wind energy project is also planned by the company and location will be offered by the Pakistani side.
He further said that the startup of all these four projects is depending on the tariff approval from NEPRA.