China plans to invest $10 billion in Pakistan’s energy sector

Discussion in 'Pakistan' started by cir, Jan 28, 2012.

  1. cir

    cir Senior Member Senior Member

    Joined:
    Dec 28, 2010
    Messages:
    1,996
    Likes Received:
    269
    Javed Mirza

    Saturday, January 28, 2012

    KARACHI: China’s state-owned Three Gorges Corp. plans to invest $10 billion by 2018 in Pakistan’s energy sector and a delegation is scheduled to visit Pakistan on February 7, officials said on Friday.

    The Hong Kong-based United Energy Group Limited of China also intends to establish a 2,000 megawatts power project in Sindh as their delegation is also visiting Pakistan next month to hold further talks on setting up the power projects, they said.

    Sindh Coal and Energy Department has signed memorandums of understating (MoU) with the two companies, which have shown interest in developing coal-fired power plants in Thar and Badin coal fields, as well, the officials said.

    In an attempt to resolve the issue, the government is pinning hopes on Thar Underground Coal Gasification (UCG) pilot project, which contains the country’s largest coal deposits of around 850 trillion cubic feet spanning over 3,800 square miles, they said.

    Overall, according to the World Energy Council, Pakistan has slightly more than 2,000 million tons of proven recoverable coal reserves.

    Pakistan’s current electricity demand is around 25,000 megawatts per day, but the current electrical production is less than 20,000 megawatts per day, leaving a deficit of slightly more than 5,000 megawatts, and by 2015, domestic demand is projected to rise to 30,000 megawatts per day.

    Currently, the country depends on oil and natural gas to generate up to 60 percent of its electricity needs, further impacting the country’s balance of payments as the price of oil rises and the ongoing power shortages are beginning to impact the country’s bottom-line exports, the officials said.

    Member of the Science and Technology Planning Commission, Dr Samar Mubarakmand, has said that Thar coal project would be beneficial for common people and free from all defects.

    The success of the Thar coal project would lead to investment from leading international companies, he said.

    With the completion of coal-fired power generation project, the nation would get cheap and sufficient power supply, which would resolve the current energy crisis, he added.

    Mubarakmand said that the country had enough coal reserves through which it could daily produce 50-60 million cubic feet gasifier, which would end gas shortage from the country.

    It is for the first time that the coal gasification is being launched on commercial basis, which will help in abundant and cheap electricity.

    China plans to invest $10 billion in Pakistan’s energy sector
     
  2.  
  3. SpArK

    SpArK SORCERER Senior Member

    Joined:
    Oct 24, 2010
    Messages:
    2,093
    Likes Received:
    1,104
    Location:
    KINGDOM OF TRAVANCORE
    They should rename Pakistan and make it their province ... its high time.:scared2:
     
  4. cir

    cir Senior Member Senior Member

    Joined:
    Dec 28, 2010
    Messages:
    1,996
    Likes Received:
    269
  5. Iamanidiot

    Iamanidiot Elite Member Elite Member

    Joined:
    Dec 21, 2009
    Messages:
    5,326
    Likes Received:
    1,493
    We have seens a lot of MoU's being signed like this previously also nothing much came out of them
     
    Armand2REP likes this.
  6. Nirvana

    Nirvana Regular Member

    Joined:
    Jan 14, 2012
    Messages:
    343
    Likes Received:
    147
    Location:
    Mumbai
    Long live China -Pak friendship

    Their friendship is higher than Himalaya and Deeper than Atlantic :taunt:
     
  7. SpArK

    SpArK SORCERER Senior Member

    Joined:
    Oct 24, 2010
    Messages:
    2,093
    Likes Received:
    1,104
    Location:
    KINGDOM OF TRAVANCORE
    China is like Walmart for Pakistan... if walmart does same.. its again long live walmart-Pakistan friendship...:troll:
     
  8. KS

    KS Bye bye DFI Veteran Member

    Joined:
    Aug 3, 2010
    Messages:
    8,008
    Likes Received:
    5,718
    Location:
    irrelevant
    The greatest trick China ever pulled was convincing Pakistan they are their bestest buddies
     
    Nirvana likes this.
  9. Bhadra

    Bhadra Defence Professionals Defence Professionals Senior Member

    Joined:
    Jul 11, 2011
    Messages:
    6,687
    Likes Received:
    2,357
    Pakistan is the gateway to Xinziang and all energy ultimately will be taken there. Pakistan does not need energy. They have sufficient Jehadi energy
     
  10. Nirvana

    Nirvana Regular Member

    Joined:
    Jan 14, 2012
    Messages:
    343
    Likes Received:
    147
    Location:
    Mumbai
    I Wouldn't be surprised if COP Would be reality soon :toilet:

    COP = China Occupied Pakistan :hippie:
     
  11. SpArK

    SpArK SORCERER Senior Member

    Joined:
    Oct 24, 2010
    Messages:
    2,093
    Likes Received:
    1,104
    Location:
    KINGDOM OF TRAVANCORE
    That is based on natural gas which is abundant.So no worries.
     
  12. Rahul92

    Rahul92 Senior Member Senior Member

    Joined:
    Sep 4, 2010
    Messages:
    1,622
    Likes Received:
    748
    I Would rather like to call it as DONATION than INVESTMENT
     

Share This Page