Sindh gets another $130m Chinese investmentSeptember 28, 2014
KARACHI: The Sindh province has gained another Chinese investment of 130 million US Dollor for establishment of 50MW Wind Power Project near Gharo city. This project is executed by two private companies which include Hydro China and Dawood Power (Private) limited under their joint venture. The financing of this project would be by the Chinese state owned bank, whereas the Sindh government has allotted 1720 acres of land to the company after it obtained LOI for 50 mega watt wind power project from Alternate Energy Development Board (AEDB), NOC on Initial Environment Examination (IEE) report from SEPA, generation license and, upfront tariff from NEPRA and Energy Purchase Agreement (EPA) with NTDC.
The financial close of this project is expected by the end of this year and the construction will start from January 2015. The total construction period would be 18 months and commercial operation of this project would be before June 30, 2016. This project was included as one of top priority project for Pak China Economic Corridor and to generate hundreds of jobs for local people.
The Chief Minister Sindh Syed Qaim Ali Shah witnessed sub lease (land) signing between AEBD and Hydro Dawood China Wind Farm (50 Mw) at CM House Karachi on Monday.
The Consul General of China, officers of AEBD and Energy Department also attended the ceremony. Shah before and after signing ceremony talking to the Consul General China and other participants of ceremony said that Sindh had great potential in the field of wind energy and added that up to now potential of 50,000 MW wind energy had been identified in the Jhampir Gharo. He said that Sindh government had developed a comprehensive energy policy to meet its growing energy needs through cheap and indigenous resources specially wind and coal resources which are largely available in the province.
The Chief Minister Sindh said that support and active participation of Chinese investment to explore both these resources in the province was highly appreciable. He said that Pakistan China friendship had a glorious past as well as bright future and would continue to act as stabilizing force for the entire region.
Shah further informed the Chinese delegation that PPP Chinamen and Co-Chairman were keen to further strengthen the relations with the communist party of China as such they had visited many times to China and signed many MoUs with Chinese investors for the development projects in different sectors. The side line discussion with the officers of the provincial energy development reveals that up to now more than 40 companies are actively engaged in the province to develop 3000 Mw power only from the wind corridor.