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Does it mean that we need no such deal with US or France ?
Can China provide Pakistan, Nuclear technology and nuclear fuel for the plants, without the IAEA clearence?
China is a signitory of NPT and Pakistan has not. How do the two countries plan to have nuclear deals without China breaking the NPT and conditions of the Sino-US nuclear deal?
China is itself dependent on foreign technology for setting up new generation of Nuclear Power Plants and for Nuclear fuel. In such situation, will China take the risk of getting sanctioned for breaking NPT?
Is Pakistan planning to approach IAEA for the clearance?
chasnup 2 is already under construction. chasnup 3 and 4 had negotiations going on for a long time.
if im not wrong, IAEA already has access to chasnup 1.
* Two plants with a capacity of 640 megawatts to be set up in Chashma
* China to provide 82% of total $1.912bn financing
By Sajid Chaudhry
ISLAMABAD: Pakistan has entered a civil nuclear deal with China for the establishment of two nuclear power projects of 640 megawatts in Chashma, Daily Times has learnt.
The breakthrough deal under which Pakistan would be provided a loan, technology and installation facilities was finalised ahead of the latest round of the Pak-US strategic dialogue, as the federal cabinet granted financial approval at a meeting on March 24.
Sources privy to the deal said the federal cabinet had approved an inter-government framework agreement on the financing of Chashma Nuclear Power Project 3 and Chashma Nuclear Power Project 4 with China.
The sources said under the agreement, China would provide 82 percent of the total $1.912 billion financing to Pakistan as a 20-year soft loan, with an eight-year grace period.
In a bid to guarantee financing for the two plants, the inter-government framework agreement requires both countries to enter three loan agreements. Under the first loan agreement, Pakistan would be provided $104 million with an annual interest rate of 1 percent, management fee of 0.2 percent and a commitment fee of 0.2 percent. Under the second preferential buyer credit agreement, Pakistan would get $1 billion with an annual interest rate of 2 percent, a management fee of 0.2 percent and a commitment fee of 0.2 percent while the third buyers credit agreement would provide Pakistan $474 million with an annual interest rate of 6 percent, a management fee of 0.75 percent, a commitment fee of 0.5 percent and an insurance rate of 7 percent.
However, according to the inter-government framework agreement, the annual composite interest rate would not exceed three percent in any case.
The sources said that frequent visits by President Asif Ali Zardar and Prime Minister Yousaf Raza Gilani helped secure the deal. They said the Executive Committee of the National Economic Council (ECNEC) had already approved the two projects.
The Pakistan Atomic Energy Commission would be the executing agency for the establishment of the two plants which would be completed in eight years.
The sources said each 320-megawatt unit would contain a nuclear steam supply system, a turbine-generator set and the associated auxiliary equipment and installations.
Daily Times - Leading News Resource of Pakistan
yes and the news you shared last week was about Chasnup-2...... it was supposed to be operational by the end of 2009 but later on i started hearing news December 2010 (some sources even claiming 2012 )
and the american source you shared was saying it is already an operational its construction started in 2002 by the way
Does it mean that we need no such deal with US or France ?
Good development. I just have one question, what about the fuel supply gaurantee. Forgive me for being ignorant but is there enough uranium resources in Pakistan to run these reactors. I ask because till the Nuclear deal goes through, India does not have enough fuel to operate the curent installed nuclear energy capacity and the resources are being developed to the weapons program. How will Pakistan come around this. They will have the installed capacity but non-operational??
yes and the news you shared last week was about Chasnup-2...... it was supposed to be operational by the end of 2009 but later on i started hearing news December 2010 (some sources even claiming 2012 )
and the american source you shared was saying it is already an operational its construction started in 2002 by the way