Chinese investment in Pakistan’s energy projects increases to $12.4 billion
Three of the projects are likewise expected to be finished and effectuated in the coming years, 2021 to 2023.
Recently, in a meeting held at the country’s capital; it was revealed that the Chinese government has funded $12.4 billion as yet in CPEC energy projects under CPEC (China Pakistan Economic Corridor) substructure.
As stated by the Chinese side, the construction of almost 12 of the new power projects has begun, and some of them are already in their phase of operation. According to sources, these projects have an overall volume of 7,240 MW with a cumulative investment of more than $12 billion.
Apart from that, nine commercial operation date (COD) projects are under construction with an estimated investment of $8 billion, as mentioned by officials in the meeting of the Joint Coordination Committee. The total capacity of all these projects is said to be 5,320 MW.
The on-going projects and their installed capacity:
Three of the projects are likewise expected to be finished and effectuated in the coming years, 2021 to 2023. Their installed capacity is reportedly 1,920 MW.
Additionally, nine projects are at their beginning stages with an overall installed capacity of about 6,500 MW.
As observed by the Chinese side, the energy supply of Pakistan has increased with the help of energy cooperation under the China Pakistan Economic Corridor. According to officials, they said: “In the fiscal year 2018-2019, power generation from CPEC projects reached 17.728 billion kWh, 14.5pc of the total output in the National Transmission and Despatch Company (NTDC) system.”
Furthermore, energy cooperation has been a great help for the economic and social development of the country. Taking the stats into consideration, the CPEC’s COD projects have remunerated more than $245 million in taxes other than providing jobs to 10,000 people this fiscal year.
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