China agrees to raise financing for Thar coal project

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Coal trucks drive along a road leading to a mine located on the outskirts of the city of Baotou, in China's Inner Mongolia Autonomous Region October 31, 2010. China's $736-billion push to harness nuclear, wind, solar and biomass energy hinges on making the cleaner fuels competitive with cheap and CO2-intensive coal without derailing surging industrial growth. The world's second-largest economy faces formidable challenges to make the plan work, with the upgrade to its rickety electricity grid needed, and the opening
Coal trucks drive along a road leading to a mine located on the outskirts of the city of Baotou, in China's Inner Mongolia Autonomous Region October 31, 2010. China's $736-billion push to harness nuclear, wind, solar and biomass energy hinges on making the cleaner fuels competitive with cheap and CO2-intensive coal without derailing surging industrial growth. The world's second-largest economy faces formidable challenges to make the plan work, with the upgrade to its rickety electricity grid needed, and the opening

ISLAMABAD: The Chinese government has agreed to increase financing in Thar Coal project to double generation capacity of the Thar Block-II from 660 to 1,320MW.

In a statement on Tuesday, the Ministry of Water and Power claims that it has secured an additional commitment from China in a videoconference held between Secretary In-charge Water and Power Mohammad Younus Dagha and Zhang Yuqing, Vice Administrator, National Energy Administration, China.

The ministry said that similar decision was also taken for a coal-fired power plant at Hub, Balochistan.

The work on these two projects would be started after completion of ‘early harvest projects’ anticipated to be completed by 2018.

The statement said the officials of the two countries also discussed progress on China-Pakistan Economic Corridor (CPEC).

They agreed to add project capacity and increase the mine size from 3.8 to 6.5 million tonnes per annum in priority list of CPEC projects.

Both sides recognised the importance of 660 KV HVDC Transmission line from Matiari to Lahore which is very critical for evacuation of power from various projects planned in south in future.

They expressed the resolve to expedite the completion of all necessary requirements for achieving financial close at the earliest.

Published in Dawn, October 21st, 2015

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