Beijing: Pakistan and China have agreed to collaborate on the construction of a coal-based power project in Thar, a news source reported. An agreement to this effect was signed at the 8th meeting of the Joint Coordination Committee (JCC), the apex decision-making body on China Pakistan Economic Corridor (CPEC).
Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar, Sindh Chief Minister Murad Ali Shah, Ambassador Masood Khalid and other officials concerned attended the ceremony in Beijing.
The 330MW energy project worth USD 520 million is being financed by a consortium of business leaders and ventures from Pakistan and China such as HUBCO, which has 60% stake in the project. Fauji Fertilizer Company owns 30% of the shares, while China Machinery Engineering Corporation owns the remaining 10%.
Construction work on the project had started in May this year, and the project would be completed by March 2021. The consortium is being led by China Development Bank (CDB) and Habib Bank Limited (HBL).
