ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal asserted that the proposed Chinese invest to the tune of $45.6 billion in energy and infrastructure development projects in Pakistan will revolutionised the entire region and transformed it into an economic hub.
The projects to be undertaken will be part of China-Pakistan Economic Corridor and completed till 2025 to benefit not only Pakistan and China but the entire neighbouring regions.
Briefing newsmen here about agreements signed with China during recent visit of the Prime Minister to Beijing, the Planning and Development Minister said the agreement signed include energy projects to produce 16,400 MW of electricity. He pointed out that in the first phase, projects having an aggregate capacity of 10,400 MW would be completed at a cost of 15.2 billion dollars. Similarly, project under the second phase include power generation projects having a capacity of 6645 MW, energy related projects of a Jetti in Gaddani, up-gradation of existing transmission lines and installation of new transmission lines, adding that the second phase projects would cost 18 billion dollars. Mr Iqbal claimed that work on energy projects of the capacity of 10,400 MW would be initiated immediately while projects with aggregate capacity of 9,000 MW would be completed by 2018 and hydel projects would be completed between 2020 and 2023.
The minister said projects with a total capacity of 7,560 MW would be coal-based with a generation cost of 10 cents per unit, enabling the Government to reduce electricity prices. Projects with capacity of 1,600 MW would be hydel based and these too would help produce electricity at reduced cost. He said the energy projects also include 1,000 MW Quaid-e-Azam Solar Park, which would be the largest solar park in the world.
