ISLAMABAD: A nine-member delegation along with four-member International Finance Corporation (IFC) team-led by China Three Gorges Corp. (CTG) Board of Directors Chairman Chun Lu have called on Federal Finance Minister Ishaq Dar and discussed possible investment in Pakistan’s energy sector.
Both sides have agreed to form their respective teams to discuss modalities for CTG’s investment ventures in Pakistan as the group has planned to invest $10 billion in Pakistan, ultimately taking up the investment to $100 billion in the long run with focus on energy sector.
The Finance Minister nominated senior officials from the Ministry of Finance, Ministry of Water & Power and FBR for detailed discourse with the CTG team.
Leading a nine-member delegation along with four-member International Finance Corporation (IFC) team Chun Lu met with Finance Minister Ishaq Dar here and both sides agreed to form their respective teams to discuss modalities for CTG’s investment ventures in Pakistan
During discussion Chun Lu said that CTG had entered collaboration with the IFC forming CSAIL (China Three Gorges South Asia Investment Limited) and the two would undertake energy projects in Pakistan.
The CTG Chairman said that they already had undertaken investment in projects which would generate 3000 MW electricity, and had plans for further such ventures in collaboration with the Pakistani side. He evinced keen interest in investing in ongoing projects.
Finance Minister, Ishaq Dar welcomed the investment plans of CTG and their collaboration with IFC for projects in Pakistan. He said the present government attached due importance to its ties with China and wished this strong relationship could be translated into a robust economic partnership. He said CTG’s 100 billion dollar investment plan would greatly add to realization of this objective.
