Chinese delegation assures to invest $3.5bn in Thar coal project

[Kabira]

ISLAMABAD – Chinese investors on Monday assured to surprise Pakistan by producing cheap electricity from Thar’s coal and stated that Pakistan needs some time to overcome energy crisis.


In an interview with a private TV channel, Chinese delegation vowed to fulfill the dream of cheap electricity production of their old friend Pakistan. They said that it’s not difficult to generate electricity as Thar has 175 billion tons of coal. Investors stated that Shanghai Electric Company would assist Pakistani engineers to utilize their natural coal for electricity production.


The Shanghai Electric Company chairman and the Sino-Sindh Resources CEO said that China will invest three and a half billion dollars in Thar to activate its industry. They further said that successful installation of power production plant would surely decrease electricity’s price to 50 per cent per unit. To a question, Chinese delegation claimed that power outage cannot be eradicated at once, therefore, the Pakistani government has to initiate more Thar mill and hydro plans.


Meanwhile, Chinese investors termed Pakistani land fruitful for foreign investment and said that China has no fear with respect to security in Pakistan. Moreover, delegation further vowed to strengthen the Pak-China relations by cooperating in every sector.

Chinese delegation assures to invest $3.5bn in Thar coal project

 

[Kabira]

“Coal is very important to meet the future energy needs of Pakistan, we think that Pakistan should take full advantage of 175 billion tons of coal reserves in Thar desert of Sindh,” said Weikai Gao, Chief Executive Officer of Global Mining China.

Global Mining China is the parent company of Sino-Sindh Resources, which is working on coal extraction from Block-I at Thar.

Talking with The Express Tribune, Gao said they are not limited to what they are currently doing in Thar, “We have also some other plans, one of which is to expand the coal mining and increase power generation to up to 4000MW from Block-I,” he said.

“In future we will import machinery and boilers from China to dry coal as China is the 3rd country in the world that provides technology to dry the coal. Later, if things go smooth, we will look into the possibilities to export the dry coal,” he said.

Investing with confidence: Chinese say their money is safe in Pakistan - The Express Tribune