STAFF REPORT IBD: Chinese hydel power giant, China Three Gorges Project Corporation (CTG), has shown its interest in investing over $15 billion for generating 10,000 MW powerPakistan.
This was stated by the Chief Executive Officer of China Three Gorges First Wind FarmPakistan, Wang Shenliang, at the ground breaking ceremony of $130 million 50MW wind power plant in Jhimpir Thatta, Sindh. The Chinese company is self financing the wind power project and 1100 MW Kohala hydro power project in the country.
On the occasion, Wang said, “As the CTG expands its overseas investment, our first priority remainsPakistan, and we are interested to generate 10,000 MW hydel and wind energy inPakistan”.
He said that the first project of 50 MW will be completed by June 2012. The firm is seeking additional land for 450 MW and has given commitment to set up 1000 MW in Sindh in the next 3-4 years.
It is to be mentioned here that CTG has shown interest to invest in four mega hydropower power projects of Bhasha, Bunji, Kohala and Karot, provided the government removes legal bottlenecks in the award of contracts.
Pakistanhad already signed an MoU with CTG for the construction of 7100 MW Bunji Hydropower, while the contract for 1100 MW Kohala Hydropower project was awarded to it this year.