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| May 5, 2003 | Monday | Rabi-ul-Awwal 2, 1424 |
China to assist in power projects
BEIJING, May 4: China will help undertake medium and small hydropower projects in Pakistan, worth around $600 million to $700 million.
“The projects include Jinnah, Golan Gol and Keyal Khwar hydropower projects,” Chinese commerce ministry officials told APP.
They said all the hydropower projects, for which commitment had been given, would be financed by Chinese companies in shape of soft loans and grants.
According to the sources, the Chinese companies are prepared to start work on the projects as soon as the government of Pakistan extends its approval and fulfils requirements.
They said Memorandums of understanding were signed for half a dozen hydropower projects during the visit of President Gen Pervez Musharraf to China in December 2001. The projects are said to be at the advance stages, awaiting signing of contracts.
The projects include, Jinnah hydropower project of 96 megawatt worth $128 million, to be built on the Indus near Kalabagh; Golan Gol project of 106 megawatt worth $139 million in Chitral and Keyal Khwar project of 130 megawatt worth $129 million in the NWFP.
There are some other small hydropower projects, for which MoUs have been signed or are at various stages of final negotiations, between the Chinese companies and the Water and Power Development Authority.
The Dong Fang Electric Corporation of China has shown its willingness to launch the Jinnah hydropower project as soon as it receives a go-head signal from the Pakistani authorities. The company has handled the construction of the Ghazi Barotha project.
The Chinese companies recently sent delegations to Pakistan to expedite the negotiation, so that the projects could be launched before the new financial year.—APP
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