China to invest $6bn in energy sector

[Gryphon]

Friday, 19 July 2013

ISLAMABAD: Chinese CWE Investment Corporation will invest $ 6 billion in the energy sector of Pakistan during the next 5 years to help the country overcome its energy problems and ensure availability of sufficient power supply in future.

The company is already running nine projects in the country, Vice President, CWE Investment Corporation, Wang Shaofeng, who is leading a six member Chinese delegation in Pakistan, said during a meeting with Chairman Board of Investment (BoI), Mohammad zubair, Shaofeng.

He briefed the BoI Chairman about ongoing energy projects, saying that the construction of 50 mw three gorges first wind farm (50mw) has been started in January, 2013 while its financial closing is almost completed.

All civil works and 50% wind-turbine installation is scheduled to be completed by the end of this year while the project will be enter into commercial operation (cod) in June 2014.

According to a BoI statement, Shaofeng said, 720mw Karot hydropower project is at first stages (feasibility stage) and tariff has been approved by NEPRA.

Feasibility updating and optimization works continue which will be completed by June next year and the project construction is scheduled to started by the end of 2014 and would be completed in 5 years.

He told the BoI Chairman that 1100mw Kohala hydropower project is at first stage and tariff negotiation have started since September 2011 with NTDC and the parties have held 3 rounds of negotiation.

Land acquisition and preparation for construction will completed in 2015 and construction will kick off in 2016.

Similarly, construction on 120mw Taunsa Hydropower project (120mw) approved by Punjab power development board (PPOB) on June 25th, 2013 will be started in 2015 with 4 years construction period.

The other projects that the company is running include two three-gorges wind farm (450mw) projects, wind measurement project in Punjab, 50mw solar power project in Punjab and 50mw solar power project in Sindh.

China to invest $6bn in energy sector

 

[M.harris]

 

[ChinaToday]

very good news congrats

 

[ziaulislam]

wind power is the quickest clean energy
hydro is cheap
but we still need coal for winter ..as wind power drops down

 

[InvisbleSoldier]

Well that is a great news. need to see that how our leaders implement it. Otherwise it can be only a popularity news like the other ones.

 

[My-Analogous]

One sentence to all our nation "STOP TALKING AND START WORKING"

 

[Devil Soul]

Investment inflow: Chinese firm to pour $6b into energy projects
ISLAMABAD:
China International Water and Electric Corporation (CWE), a state-owned entity, would invest $6 billion in energy projects in Pakistan over the next five years, said the company’s Vice President Wang Shaofeng.
If the company invests what it promised in a meeting with Board of Investment Chairman Muhammad Zubair, it will become the single largest investment which is four times bigger than the total foreign investment the country received in the last fiscal year.
CWE is owned by the Chinese government and is engaged in contracting overseas engineering projects. The BOI did not provide details of the investment except that out of $6 billion as much as $2 billion would be invested in energy projects in Karachi.

The BOI chairman stressed that in the next five years investment-to-gross domestic product ratio would be increased to 20% from the current low of 13%, calling the task one of the top two priorities of the new PML-N government.
Zubair said the initiatives that the government would take to restore the confidence of international investors would start giving results after two years.
Chinese firms have started interacting with Pakistani authorities following Prime Minister Nawaz Sharif’s visit to Beijing earlier this month. During the trip, Nawaz held several meetings to woo investors into Pakistan.
The premier has declared the Planning Commission as the focal organisation that will deal with all China-related initiatives.
A China Corridor has been set up in the Planning Commission – a special cell that will deal with Chinese projects, particularly Gwadar-Kashgar trade corridor. The prime minister has termed this corridor “the future of the world”.
CWE’s Shaofeng said his company was already working on nine projects in Pakistan.
The company is developing a 50-megawatt Three Gorges wind farm. The project’s financial close is said to be almost complete.
All civil works and 50% installation of wind turbines are scheduled to be completed by the end of this year. The project will start commercial operation by June next year.
The company is conducting feasibility study for 720MW Karot hydropower project and its tariff has already been approved by the National Electric Power Regulatory Authority. The construction of the project will take five years.
CWE is also engaged in 1,100MW Kohala hydropower project, which is in initial stages. Tariff negotiations with regulatory authorities have been going on since September 2011, but no tangible results have come out. The company is eager to acquire land and start construction work in 2015.
Another project in which the company is involved is 120MW Taunsa hydropower project, approved by the Punjab Power Development Board (PPDB) on June 25 this year. Construction will start in 2015 and will be completed in four years.
The PPDB has also approved feasibility study for a 50MW solar power project in Punjab. Another 50MW solar power project will be set up in Sindh.
CWE is also planning Three Gorges wind farms of 100MW and 350MW. It is involved in a wind measurement project in Punjab and is installing a wind mast in Chakwal and Rajanpur.
Published in The Express Tribune, July 20th, 2013.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

 

[Spring Onion]

ISLAMABAD:
China International Water and Electric Corporation (CWE), a state-owned entity, would invest $6 billion in energy projects in Pakistan over the next five years, said the company’s Vice President Wang Shaofeng.

If the company invests what it promised in a meeting with Board of Investment Chairman Muhammad Zubair, it will become the single largest investment which is four times bigger than the total foreign investment the country received in the last fiscal year.

CWE is owned by the Chinese government and is engaged in contracting overseas engineering projects. The BOI did not provide details of the investment except that out of $6 billion as much as $2 billion would be invested in energy projects in Karachi.



The BOI chairman stressed that in the next five years investment-to-gross domestic product ratio would be increased to 20% from the current low of 13%, calling the task one of the top two priorities of the new PML-N government.

Zubair said the initiatives that the government would take to restore the confidence of international investors would start giving results after two years.

Chinese firms have started interacting with Pakistani authorities following Prime Minister Nawaz Sharif’s visit to Beijing earlier this month. During the trip, Nawaz held several meetings to woo investors into Pakistan.

The premier has declared the Planning Commission as the focal organisation that will deal with all China-related initiatives.

A China Corridor has been set up in the Planning Commission – a special cell that will deal with Chinese projects, particularly Gwadar-Kashgar trade corridor. The prime minister has termed this corridor “the future of the world”.

CWE’s Shaofeng said his company was already working on nine projects in Pakistan.

The company is developing a 50-megawatt Three Gorges wind farm. The project’s financial close is said to be almost complete.

All civil works and 50% installation of wind turbines are scheduled to be completed by the end of this year. The project will start commercial operation by June next year.

The company is conducting feasibility study for 720MW Karot hydropower project and its tariff has already been approved by the National Electric Power Regulatory Authority. The construction of the project will take five years.

CWE is also engaged in 1,100MW Kohala hydropower project, which is in initial stages. Tariff negotiations with regulatory authorities have been going on since September 2011, but no tangible results have come out. The company is eager to acquire land and start construction work in 2015.

Another project in which the company is involved is 120MW Taunsa hydropower project, approved by the Punjab Power Development Board (PPDB) on June 25 this year. Construction will start in 2015 and will be completed in four years.

The PPDB has also approved feasibility study for a 50MW solar power project in Punjab. Another 50MW solar power project will be set up in Sindh.

CWE is also planning Three Gorges wind farms of 100MW and 350MW. It is involved in a wind measurement project in Punjab and is installing a wind mast in Chakwal and Rajanpur.

Published in The Express Tribune, July 20th, 2013.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

 

[Gryphon]

ISLAMABAD:
China International Water and Electric Corporation (CWE), a state-owned entity, would invest $6 billion in energy projects in Pakistan over the next five years, said the company’s Vice President Wang Shaofeng.

If the company invests what it promised in a meeting with Board of Investment Chairman Muhammad Zubair, it will become the single largest investment which is four times bigger than the total foreign investment the country received in the last fiscal year.

CWE is owned by the Chinese government and is engaged in contracting overseas engineering projects. The BOI did not provide details of the investment except that out of $6 billion as much as $2 billion would be invested in energy projects in Karachi.

The BOI chairman stressed that in the next five years investment-to-gross domestic product ratio would be increased to 20% from the current low of 13%, calling the task one of the top two priorities of the new PML-N government.

Zubair said the initiatives that the government would take to restore the confidence of international investors would start giving results after two years.

Chinese firms have started interacting with Pakistani authorities following Prime Minister Nawaz Sharif’s visit to Beijing earlier this month. During the trip, Nawaz held several meetings to woo investors into Pakistan.

The premier has declared the Planning Commission as the focal organisation that will deal with all China-related initiatives.

A China Corridor has been set up in the Planning Commission – a special cell that will deal with Chinese projects, particularly Gwadar-Kashgar trade corridor. The prime minister has termed this corridor “the future of the world”.

CWE’s Shaofeng said his company was already working on nine projects in Pakistan.

The company is developing a 50-megawatt Three Gorges wind farm. The project’s financial close is said to be almost complete.

All civil works and 50% installation of wind turbines are scheduled to be completed by the end of this year. The project will start commercial operation by June next year.

The company is conducting feasibility study for 720MW Karot hydropower project and its tariff has already been approved by the National Electric Power Regulatory Authority. The construction of the project will take five years.

CWE is also engaged in 1,100MW Kohala hydropower project, which is in initial stages. Tariff negotiations with regulatory authorities have been going on since September 2011, but no tangible results have come out. The company is eager to acquire land and start construction work in 2015.

Another project in which the company is involved is 120MW Taunsa hydropower project, approved by the Punjab Power Development Board (PPDB) on June 25 this year. Construction will start in 2015 and will be completed in four years.

The PPDB has also approved feasibility study for a 50MW solar power project in Punjab. Another 50MW solar power project will be set up in Sindh.

CWE is also planning Three Gorges wind farms of 100MW and 350MW. It is involved in a wind measurement project in Punjab and is installing a wind mast in Chakwal and Rajanpur.

Same article Posted here in this thread:

http://www.defence.pk/forums/economy-development/265573-china-invest-6bn-energy-sector.html
Mods -- Please merge / delete this thread @Aeronaut @Oscar @WebMaster @Jungibaaz

 

[interhacker]

If this works out and everything, will the government be able to sufficiently reduce load-shedding?

 

[Nishan_101]

Also heard that GoP is going to privatize all of the Thermal power plants along with distribution companies. If its true then GoP should keep at least 50% shares instead of just 49% shares.

 

[A1Kaid]

wind power is the quickest clean energy
hydro is cheap
but we still need coal for winter ..as wind power drops down

Government is already engaged in wind power plants in Sindh, and that will add tens of thousands of megawatts to the power grid.


Wind projects to start generating power in a year – The Express Tribune

If this works out and everything, will the government be able to sufficiently reduce load-shedding?

Absolutely load-shedding will become a thing of the past, Pakistan is making major program to give the country plenty of energy for future with hauling in many investments in the energy sector from China and many domestic initiatives as well. New nuclear power plant, wind energy plants to add up to 50,000 megawatts, $3 billion solar energy plant investment from China, apparently a new dam as well.

 

[Nishan_101]

So is it possible that the money gained from Privatization of Thermal Plants in Pakistan and the ditribution companies along with PIA, would be used to pay the Chinese $1 Billion for getting the Gwadar Port back and trying to build some more facilities there like Gwadar Port Authority and its residential facility and giving PN some money to take Land in South East and South West zone to build there residential as well as other facilities Like two Mega Class Shipyards. So that Naval base will remain secure place rather than what we see in Karachi that all the ships and other Naval Equipments are visible to the other Merchant vessels passing by just because of the lact of a Separate Location for a Naval Base in Karachi.