The Chinese investment of US dollars 1.2 billion for surface mining of 3.8 MTPA coal and establishment of 660MW power plant on indigenous coal in Thar Block-II gets final nod and it has also been approved by the China State Council for financing.
The final lending documents will be signed on 21st December 2015 in Beijing.
The Chinese side confirmed to the ministry of water and power in a letter addressed to Ministry of Water and Power Secretary Mohammad Younus Dagha the approval of financing of the mega project by the China State Council.
M/s Sinosure in collaboration with Sindh Engro Mining Company are jointly undertaking the surface mining of 3.8 MTPA and establishment of 660MW power plan projects in Thar Block-II and it is part of the CPEC projects.
Reaching at this stage is considered as major achievement in the shortest time. Arrangement of finances and completion of lending documents is the most critical part in any project which signifies starting of actual work on the projects. This project has been largest on the priority by the government which helped it getting to the advanced stage among CPEC mega projects, after signing of CPEC energy projects agreement in November 2014.
It is worthy to mention that due to tireless efforts of the ministry of water & power and NEA China, all the regulatory requirements have been completed in one year’s time. Thar Coal has remained on agenda of every government, however, practical steps have been taken by the ministry of water and power for the first time since the present government focused on tapping the potential to its fullest.
