Board of Investment (BoI) Chairman Saleem Mandviwala on Monday said China was committed to construct the Chashma Nuclear Power Plant (CHASNUPP) Unit no 3 and Unit no 4.
Addressing a press conference, Mandviwala said memoranda of understanding (MoU) worth $10 billion had been signed with China to enhance power generation in the country. He said the BoI processed 18 MoUs of $15 billion investment, while 13 MoUs were signed at the Prime Minister’s House.
China has helped Pakistan to construct CHASNUPP-1, which started its commercial operations from September 2000. The construction of CHASNUPP-2 also started with the help of China in 2005 and is expected to start power generation from 2011. Pakistan wants Chinese help to add two more units to produce cheap nuclear electricity, he said.
The BoI chief said a $6.5 billion MoU was signed between the China Three Gorges Corporation and the Alternate Energy Development Board to undertake development of 3,000MW of wind and solar power projects on build operate and own (BOO) or build, operate, own and transfer (BOOT) basis.
He said a framework agreement of $3.5 billion was signed between the China Development Bank and National Transmission and Dispatch Company to improve the national transmission network. However, he said many important MoUs could not be signed due to time constraints and these would be taken up in bilateral fora. He especially mentioned a dredging agreement between the China Harbour and Sindh government, which was held on the last minute due to some formal approves from the Chinese government.
The agreements signed by the private sector would be executed immediately, while the government-to-government deals would take a little longer for implementation, he added.