Connect with us

News

Pakistan and China Sign $3.48 Billion MoU for 1200MW Nuclear Power Project

Avatar of Arsi Mughal

Published

on

Pakistan and China Sign $3.48 Billion MoU for 1200MW Nuclear Power Project

(CTN News) – Prime Minister Shehbaz Sharif witnessed the signing of a Memorandum of Understanding (MoU) between Pakistan and China for the Chashma-5 (C-5) nuclear power project.

Pakistan and China Strengthen Economic Cooperation with 1200MW Chashma-5 Project

The project is worth $3.48 billion and will generate 1200MW of power. Muhammad Saeed Ur Rehman signed the MoU from the Pakistan Atomic Energy Commission and the President of China National Nuclear Corporation Overseas Ltd (CNOS).

During the event, Prime Minister Shehbaz highlighted the significance of the nuclear power project in strengthening economic cooperation between the two countries.

He mentioned that the decision to initiate the project was taken during his previous term as Prime Minister, but it was put on hold by the subsequent government. However, due to the trust and faith of Chinese companies and investors in Pakistan, the project is now being revived.

The Prime Minister expressed gratitude towards China for abstaining from raising the project’s cost, despite global inflation, and providing a discount of approximately Rs30 billion.

He emphasized that China’s investment of $3.48 billion in the project, especially during Pakistan’s economic challenges, demonstrated the strong friendship and trust between the two nations.

PM Shehbaz Pays Tribute to Nawaz Sharif’s Historic Agreement with China

PM Shehbaz also mentioned the inauguration of the K-3 nuclear project in Karachi and the ongoing engagement with the International Monetary Fund (IMF) to finalize the 9th review of the bailout package.

He acknowledged the support of other friendly countries, including Saudi Arabia, UAE, and Qatar, but highlighted China’s outstanding support during this critical time.

The Prime Minister thanked President Xi Jinping, the Chinese leadership, Finance Minister Ishaq Dar, Planning Minister Ahsan Iqbal, Power Minister Khurram Dastgir, and the military leadership for making the agreement with China possible. He recognized the unity among political parties and the military in pursuing this project.

Additionally, PM Shehbaz paid tribute to Nawaz Sharif for initiating the first nuclear power project agreement with China in 1993. He also mentioned the renewal of commercial and sovereign loans from China, further strengthening the two countries’ friendship.

The signing ceremony was attended by various officials, including Federal Minister for Finance Senator Ishaq Dar, Planning Minister Ahsan Iqbal, Minister for Power Khurram Dastgir, and representatives from China, including the chargé d’affaires and the Vice President of China National Nuclear Corporation.

 

Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

Continue Reading

CTN News App

CTN News App

Recent News

BUY FC 24 COINS

compras monedas fc 24

Advertise here

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies