China to build Indus-Islamabad water pipeline

Discussion in 'China' started by huaxia rox, Jun 8, 2012.

  1. huaxia rox

    huaxia rox Senior Member Senior Member

    Apr 4, 2011
    Likes Received:
    China to build Indus-Islamabad water pipeline

    Beijing—Pakistan and China Wednesday signed three Memorandum of understanding covering supply of water from Tarbela to Islamabad, establishment of Special Economic Zone in the proposed new city Zulfikarabad in Sindh and the building of 6,000 flats in I-15 sector Islamabad on private public partnership basis and an agreement for the de-silting of canals and barrages in Sindh.

    The signing ceremony was also witnessed by President Zardari and members of his entourage. The MoU for water supply to Islamabad from Tarbela was signed by Mr. Farkhand Iqbal Chairman Capital Development Authority and Zhang Chun, President of China Machinery Engineering Company (CMEC). The CDA Chairman also signed another MoU for building 6000 flats and developing Sector I-15 in Islamabad with another Chinese company CRFG (China Railway First Group).

    The agreement on de-silting canals in Sindh was signed by Mr. Saleem Mandviwala, Chairman Board of Investment with the President of China Harbour Engineering Company Limited.

    The MoU on the establishment of Zulfikarabad Special Economic Zone was signed by Managing Director Zulfikarabad Development Authority Lt. Gen (R) Syed Iftikhar Hussain Shah and Mr. Yang Yong, Chairman of the Sichuan Huantong Holding Investment Limited.

    Spokesperson to the President Senator Farhatullah Babar while giving details of the agreement and MoUs said that with the signing of the memorandums and agreement today, a fresh impetus has been provided to further strengthening the economic engagement between the two countries.

    The President also held separate meetings with the four leading Chinese business executives inviting them to take advantage of the investment friendly policies of the Government and to further extend their business ventures in all the sectors especially in the areas of energy, oil and gas, mining, engineering goods, electronics, chemicals, infrastructure, telecommunications, IT and agriculture. Senator Babar said that the President highlighted to the Chinese business executives great business and investment opportunities present in Pakistan and invited them to further extend their business ventures in the country assuring them all possible Government’s facilitation and safety of the Chinese personnel. He said that the business community must take advantage of some very important recent developments between the two countries such as currency swap agreement, the 2nd five years’ trade and economic program and the opening of Chinese Bank branches in Pakistan.

    The first meeting in the series was held with the Chairman of Orient Group/United Energy Group Mr. Zhang Hongwei. The President during meeting appreciated Orient’s Group existing investment in Pakistan in the area of oil & gas exploration and alternate energy and called for greater investment in the energy sector.

    He invited the Company again to set up an oil refinery at Karachi port as the company had the required competence for undertaking such a project. It may be recalled that the President has been continuously inviting the Chinese companies to undertake projects involving onshore and offshore drilling for oil and gas as well as for reactivating the depleted and abandoned oil and gas fields in different parts of the country.

    The President said that the untapped tremendous natural resource potential of Pakistan offered great opportunities to the Chinese investors and entrepreneurs not only to get economic benefits but also to help in transforming the traditional Pak-China all weather friendship into a comprehensive economic engagement.

    The meeting with Chairman Orient Group was followed by another meeting of the President with Mr. Ren Hongbin, Chairman of China National Machinery Industry Corp (SINOMACH)—the largest machinery manufacturer in China. The President while noting with satisfaction the association of CMEC – a subsidiary of SINOMACH- with various projects in Pakistan, including Machinery and Equipment for the Neelum Jhelum Hydropower project, expressed the hope that the company would be able to explore more economic opportunities in Pakistan especially in the projects of building new dams in Pakistan.—INP

Share This Page