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Published 31 Dec, 2004 12:00am

Chinese PM to inaugurate Thar coal project

BEIJING, Dec 30: Chinese Premier Wen Jiabao will inaugurate Thar coal power project during his upcoming visit to Pakistan, official sources told APP here on Thursday.

The visit is likely to take place in March or April. The exact date of the visit is being worked out through the diplomatic channels.

According to the sources, almost all the matters relating to this mega project have been finalized. The Chinese leadership has given a "go-ahead" signal for undertaking the project at an early date.

A senior Chinese official Zhang Xue Jun said the project reflects China's strong commitment continue taking part in the economic development Pakistan. It is the part of the on-going efforts to develop mutually beneficial comprehensive partnership.

Top officials of China state-run company Shenhua Group met Prime Minister Shaukat Aziz during his recent visit to Beijing and discussed with him the latest progress on the project was decided that the Chinese company will launch the project, on built, operate and transfer (BOT) basis while the government of Pakistan will purchase power.

The project carries a 'Win-Win' situation for both the countries. It will be a profit-oriented project for the Chinese side as well, the sources added. The sources said that two sides have finalized the tariff structure.

The matters regarding land use right, coal mining license and use of underground water resources with the Chinese Group have also been settled down. "In this connection, we hope to get soon a formal approval of the Chinese government," said a Company's official. -APP

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