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Chinese company may invest in four power projects

China Power Investment Corp (CPI Group) on Tuesday expressed its interest in investing in four power projects in Pakistan having a combined energy generation capacity in excess of 2,500 megawatts.

In a meeting with the Board of Investment (BoI) Chairman Mohammad Zubair here, Vice President CPI Group Zhiyig Wang, accompanied by 15 delegates said, “We are an energy investment company and are interested in investing in four projects in Pakistan.”

CPI is one of the five largest state-owned electricity producers in China and is integrating industries of coal, power, aluminum railway and port, he said. It supplies 10 percent of the power supply to the country and installed 80,074 MW by the end of 2012.

“Our investment board is mandated to play an important role in the administration and implementation of the government’s FDI policy,” said Zubair. It has a strong record of actively encouraging the flow of FDI into the country through speedy and transparent processing of applications, the SEZ act, its investment policy and strategy.

Chief Executive Sino Sindh Resources Pvt Ltd Abdul Qayyum Chaudhry was also present in the meeting.

Wang talked about the four power projects including a 900 MW coal-based project located in Thar, Sindh. As per Sino-Sindh Resources, the total investment requirement for the development of 10 million tonnes coal per annum is approximately $1.5 billion.

CPI will require $1.7 billion to install this power plant and the amount will come from the company. The feasibility study of the project is in the works. Its outcome depends on the mining work in Thar Coal. Sino Sindh intends to start coal production by 2015 and power generation by FY16.

A 660 MW project will be located in Lahore and CPI will be engaged with the Punjab government for development, investment, construction, operation and management of the power plant. Another 300 MW solar energy project will be based in Bahawalpur.

Additionally, a 500-1,000 MW wind energy project is also planned by the company. Its location will be offered by the Pakistani side. Wang said that initiation of the projects depends on tariff approval from the National Electric Power Regulatory Authority.

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