Chinese CWE Investment Corporation will invest $6 billion in the energy sector of Pakistan during the next five years to help the country overcome its energy problems. The company is already running nine projects in Pakistan, CWE Investment Corporation Vice-President Wang Shaofeng said during a meeting with Board of Investment (BoI) Chairman Mohammad Zubair. Shaofeng is leading a six member Chinese delegation in Pakistan. Shaofeng briefed Zubair on the ongoing energy projects saying that the construction of the 50 mw Wind Farm has already been started in January, with its financial closing almost completed. All the civil works and 50 percent wind-turbine installation is scheduled to be completed by the end of the year and the project will begin commercial operation (cod) by June 2014, he added. Shaofeng further said that the 720mw Karot hydropower project is currently going through its feasibility stage and that its tariffs have been approved by NEPRA. Feasibility updating and optimization works are ongoing and will be completed by June 2014 while the project construction is scheduled to start by the end of 2014 and would be completed in 5 years, he added. Shaofeng told Zubair that the 1100mw Kohala hydropower project is at its first stage and tariff negotiation with the NTDC is ongoing since September 2011.Land acquisition and the preparation for construction will completed in 2015 and construction will start in 2016, he added. Furthermore, construction on the 120mw Taunsa hydropower project will start in 2015, and take four years to complete, he added.
