CPI Group to invest in four power projects: BOI chairman

China Power Investment Corp (CPI Group) Vice President Zhiyig Wang along with 15 delegates called on Mohammad Zubair, chairman Board of Investment (BOI) and discussed the opportunities in power sector. Sino Sindh Resources Pvt Ltd Chief Executive Abdul Qayyum Chaudhry was also present in the meeting. The company was invited by Prime Minister Nawaz Sharif during his visit to China. The BOI is mandated to play an important role in the administration and implementation of the Government’s FDI policy.
It has a strong record of actively encouraging the flow of FDI into the country through speedy and transparent processing of applications, SEZ act, Investment Policy and Strategy. “We welcome investors to make their businesses a success in the most lucrative investment destination of the world, Pakistan”, appraised by Chairman BOI.
During the meeting, Zhiyig Wang said that “we are an energy investment company and interested to invest in 4 projects in Pakistan”. The CPI is one of the five largest state-owned electricity producers in China and integrating industries of coal, power, aluminum railway and port.
It supplies 10 percent of the power supply to the country and installed 80074 MW by the end of 2012. He explained about the four power projects: the capacity of the first project is 900 MW and located in Thar Sindh. As per Sino Sindh Resources, the total estimate of the investment requirement to develop a 10 Million Tonnes per Annum us around $1.5 billion and 900MW power plant cost is $1.7 billion. The project depends on the mining work in Thar Coal.
The Sino Sindh intends to start coal production by 2015 and power generation by 2015-16. A project of 660MW will be located in Lahore. CPI will be engaged with the Punjab government for development, investment, construction, operation and management of power plant. A solar project of 300MW project will be based in Bahawalpur.
500MW-1000MW wind energy project is also planned by the company and location will be offered by the Pakistani side. He said further that the start up of all these four projects is depending on the tariff approval from NEPRA.