A Chinese firm, China International Water and Electric Corporation (CWE), has consented to invest in the 1100 mw Kohala hydropower project on 'Build, Operate, Transfer' (BOT) basis. The vice-president of the company, Wang said this in a meeting with the Minister for Water and Power, Pervez Ashraf, here on Saturday.
A six-member CWE delegation also showed interest to invest in other projects in hydel generation. The minister said the government would facilitate and provide investor-friendly environment to the Chinese and all other foreign investors to attract investment in the water and power sector.
He said that interest of the Chinese to invest in hydel generation projects would help meet the country's future power requirements at affordable price. He said that Chinese investment in Pakistan would strengthen the bonds of everlasting Sino-Pak friendship, and added that Pakistan has always admired Chinese skills and felt comfortable in working with them.
Earlier, Wang gave a detailed presentation to the Minister on his company's ongoing projects and briefed him on the expertise in the construction of hydropower projects. The company showed interest in making millions of dollars investment in Pakistan by constructing 1100 mw Kohala hydropower project on BOT basis.
The minister was informed that the company has completed 600 projects in 60 countries of the world. The company has completed 17 projects in irrigation, thermal, water control, highways sectors in Pakistan. It has also completed two hydropower projects in Pakistan.
The minister said that the government would provide complete assistance and data related to hydel projects to the Chinese companies who would be interested to invest in this sector. He said that there is favourable business environment in Pakistan and confidence of foreign investors would gain new heights and the economy would be made more stable through adopting rational policies to remove all hindrances and bottlenecks in this respect.
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