July 31, 2003	Thursday	Jumadi-ul-Awwal 30, 1424

BEIJING, July 30: A Chinese delegation will visit Pakistan to attend the “production ceremony” of the Saindak copper project, which is likely to take place on August 7.

This was stated by an official of China Metallurgical Construction Company (MCC) that is engaged in the development of the project. Talking to APP, he said the production would begin with initial output of around 10,000 tons raw copper every day. Modern machinery, including crushers, smelters and other plants has been installed in addition to a powerhouse of 50mw at the site.

The powerhouse will cater to the need of electricity for the Saindak project. A 33-kilometre railway line from Taftan to Saindak has also been laid.

The Chinese side has invested over $25 million (Rs1.5 billion). Local people are provided with jobs in the project, besides health, education and drinking water and other facilities to the local population are also part of the project.

The project will have a far reaching impact on the socio-economic development of the area. It is likely to create nearly 800 jobs for the local people in the beginning. This mega project would also be another symbol of China-Pakistan deep-rooted friendship, the official added.

Responding to a question, he said initially around 250 Chinese workers and technicians would participate in the production process, but this strengthen would be gradually reduced so as to provide more work opportunities to local people.

According to a survey, Saindak copper was of excellent quality. It has been estimated that the project after coming into its full production capacity will yield an average of 15,810 tons of copper, 1.47 tons of gold and 2.76 tons of silver.

The MCC has acquired the project on lease for a period of 10 years in September last year. Pakistan and China signed a formal contract worth $350 million for the development of the project.

According to the contract, the Chinese company will pay $500,000 monthly to Pakistan over next 10 years plus 50 per cent of the total revenue from mineral sale. Balochistan will also receive $0.7 million per year as royalty.—APP