ISLAMABAD – The Kingho Group, the largest private group of China, has expressed keen interest to invest in the Thar Coal project. A seven member delegation of China Kingho Group, headed by Executive Vice President Ma Xiaomin, visited Board of Investment to explore investment opportunities in Pakistan in the coal sector, particularly the development of coalfields in Thar and Badin, says a statement issued here.
Minister of State and BOI Chairman Saleem H Mandviwalla stressed that in order to enhance economic growth, Pakistan needs to tap its indigenous energy resources rapidly. The proposed investment in the development of Thar coal mines would provide multiple benefits like strategic energy resource utilisation, import substitution of expensive raw furnace oil (RFO), lower power tariff in the case of coal fired power plants, and a better socio-economic environment in the Thar region.
He also indicated that this effort will lead to creation of skilled jobs and transfer of technology. Director Mineral and Natural Resources Azhar Khan giving basic facts said that the Thar coal field in Sindh is spread over an area of more than 9,000 square kilometres and is bestowed with 175 billion tons of lignite coal, which can fuel power generation of over 100,000 MW for more than two centuries.
EDG Board of Investment Humayun Khan Sikandari informed that the Thar coal field has been declared a special economic zone and that the investor will enjoy corporate income tax holiday of five years and 10 years for developers based in the zone. The head of the Chinese delegation, told BOI officials that the true potential of the effort lies in a diversified but integrated development pattern which is composed of coal mining, washing and sorting, production, transportation and sales of coal, together with iron ore mining, chemical metallurgy, salt chemicals, building materials, logistics, and hotel and tourism businesses.
Kingho Group is the largest private consortium in China and possesses manpower of 64,000 and owns 22 billion tonnes of coal and 800 million tonnes of iron ore, he noted.
I am requesting Chines Investor to do invest in Thar Coal for mutual development of Power Generation that will boost the Pakistani economy and Chines Investment as well. I think it is also a need to get America and its allies out of this region.
Govt of Pak is not serious in overcoimg the energy issue like they are not serious for so many other important issues affecting general public. Had somebody been seriuos at top level, we would have,by now, more than enough energy available thru famous Kalabagh dam and That coal fields.Come on guys show some seriousness, own the issues, make a serious road map and follow it vigourously. Spend less time for personal interest (i can't say spend no time for such interests as that would be too much to ask from the poor guys).
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