A Contract Of 6,000 MW Power Project Is Ready For Signature

A Contract Of 6,000 MW Power Project Is Ready For Signature

A Contract Of 6,000 MW Power Project Is Ready For SignatureISLAMABAD – A joint working group of Pakistan-China Economic Corridor, said that Chinese President Xi Jinping will be signed a six thousand megawatt projects deal, PakistanTribe.com learnt from Dawn news.

According to an official statement, a meeting of the group on energy projects, jointly presided over by Water and Power secretary Mohammad Younas Dagha and Vice Administrator of China’s National Energy Administration Zhang Yuqing, expressed satisfaction over the progress made by both sides to achieve all deliverables ahead of schedule.

Informed sources said the two sides had finalized arrangements for the signing of an agreement between the State Grid China and National Transmission and Dispatch Company on two transmission lines – one from Matiari to Lahore and the other from Matiari to Faisalabad – after vetting by their legal teams.

The group also finalized the signing of term sheet and implementation agreements for setting up 1,320MW coal-based power project near Port Qasim and tripartite implementation and power purchase agreements for another 1,320MW coal-based project in Sahiwal, Punjab. The meeting expressed satisfaction over the term sheets from Chinese banks enabling the finalization of implementation and power purchase agreements for a 660MW coal-based plant of the Thar power project.

The two sides will also sign a term sheet for 3.8 million tons per annum coal mining by Sindh-Engro Coal Mining Company. An agreement for a 900MW solar power project at Quaid-i-Azam Solar Park in Bahawalpur by Zonery of China is also ready for signing, despite reservations by certain government agencies that such a big solar project does not fit into the overall government policy of getting affordable energy because of its high rate of 14.5 cents per unit.

According to the official statement, the water and power secretary told the working group that the Pakistani side had taken all steps to achieve major objectives within the agreed schedule and most of the projects would be ready for execution over the next few days.

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