The draft of Memorandum of Understanding (MoU) between the Sindh government and the China Kingho Group for investment in the Thar coal project will be finalised at the next meeting of Thar Coal and Energy Board on May 11.
This was informed at a meeting between 14-member delegation of the largest private group of China, Kingho Group and Sindh Chief Minister Syed Qaim Ali Shah at the Chief Minister’s House on Saturday.
The Kingho Group had expressed keen interest to invest in the Thar coal project and has already briefed the Board of Investment on exploring investment opportunities in Pakistan in the coal sector, particularly the development of coalfields in Thar and Badin.
Last month, a Chinese state-owned corporation, the Godian group, had also met the chief minister and expressed willingness to invest in the Thar coal project and other power projects in the province.
Meanwhile, welcoming the Chinese delegation, the Sindh chief minister assured them that all possible facilities will be extended to the China Kingho Group, as the president had expressed the need of better cultural, industrial and economic relations between the two countries.
Shah said that bilateral relations between both countries were cemented during the government of Shaheed Zulfikar Ali Bhutto, while President Asif Ali Zardari has been to China, in an effort to increase Chinese investment in various sectors,.
He assured the delegation that the provincial government will provide all required facilities and security to the Chinese company for its assignments.
Expressing satisfaction over the soon to be signed agreement between the Sindh government and the Kingho Group, Shah was of the view that it will go a long way in the development of the country.
In his briefing, Kingho Group delegation leader Zou Yi informed the Sindh chief minister that China Kingho Group, being the largest private group in China, has a manpower of 64,000 and possesses 22 billion tonnes of coal reserves and 800 million tonnes of iron ore.
He added that the company has collected all necessary data and figures, while meetings have been held with the authorities concerned in this regard.
It was informed at the meeting that the project’s evaluation committee has already given the clearance and the draft of Memorandum of Understanding (MoU) is being prepared jointly between the Sindh government and the Kingho.
It was further informed that the meeting of Thar Coal and Energy Board will be held on May 11, in which draft agreement for the MOU will be finalised.
The meeting was attended among others by Adviser to Chief Minister on Investment Zubair Motiwala, Adviser to Prime Minister Kamal Majeedullah, Ambassador at Large and Special Envoy to China Khalil Ahmed, Wu Zongyuan, Mines and Minerals Secretary Aijaz Ali Khan, Secretary to Sindh Chief Minister Alamuddin Bullo, Thar Coal and Energy Board Director General Abdul Majeed Pathan.
