China will invest about $600 million for setting up an integrated coal mining-cum-power project in Sindh. The project will produce 180 million tonnes per annum, which is sufficient to fuel the proposed 405 MW power plant.
A five-member delegation led by Qin Ruijan, vice-president, China National Machinery Import & Export Corporation (CMC), submitted an informal proposal to Water and Power Secretary Muhammad Ismail Qureshi in a meeting. Private Power and Infrastructure Board Managing Director Fayyaz Elahi and other senior government officials attended the meeting.
The Chinese delegation appreciated the investor-friendly policies of Pakistan particularly in the power sector. The project will be set up at Sinda-Jherruk coal mines in Sindh.
Ismail Qureshi appreciated CMC's decision to invest in the power sector of Pakistan using local coal, and encouraged them to submit a formal proposal so that it can be processed at the earliest by PPIB as per the provisions of the power policy.
The CMC is the 10th largest state-owned corporation of China. It is the largest foreign trade enterprise engaged in import and export of machinery products in China, having a trade turnover of $73 billion. The CNC has substantial experience in the development of coal mines and coal-based power projects.
The interest of Chinese investors in the power sector of Pakistan is a further step in realising the Pakistan's efforts to speed up investment in the power sector utilising indigenous coal resources of the country.