- Shahbaz says $ 33 billion have been allocated only for energy projects
The Punjab government signed an agreement of 300 megawatt solar project with a Chinese company under China-Pakistan Economic Corridor (CPEC) on Friday.
Punjab Chief Minister Shahbaz Sharif was the chief guest at the ceremony held at Model Town.
According to the agreement, Chinese company Zonergy will complete 300 megawatt project at Quaid-e-Azam Solar Park Bahawalpur under China-Pakistan Corridor by December 25, 2015.
The 50 megawatt solar project will start producing electricity by August 14 during the current year while 600 megawatt solar project will provide electricity by the end of 2016. Agreements of energy purchase and implementation were also signed between the Chinese companies and the federal government.
Talking to journalists on the occasion, Shahbaz said that under CPEC, detailed documents of the agreement of first project have been signed. He said that these positive beginnings of the CPEC and kick off a long journey of development and prosperity.
The chief minister said that the dream is materialising due to the untiring efforts of the Chinese president, prime minister, people, Chinese ambassador and consul general in Pakistan and all departments concerned.
“Under the CPEC, $ 33 billion have been allocated only for energy projects,” he elaborated, adding that the agreement was the first drop of the rain and the better is yet to come.
The Chinese investment of Rs 140 billion will be made on 900 MW solar projects, he added.
He said that the contact of solar project was given to Zonergy by the Chinese government.