Beijing interested in Pakistan's development, not profits: Chinese power boss
New Hub coal-fired plant to move economy, says Wang Binghua
Hubco plans on achieving financial close on the first two coal-fired plants by the end of 2015. PHOTO: FILE
ISLAMABAD:
A top Chinese power investor has said his country’s interest in Pakistan is focused on sustainable development rather than reaping profits.
“We come to Pakistan, not for the installation of our equipment and gain profits. We pay more importance to improving the development of local high-end manufacturing industries so as to make the development sustainable,” Wang Binghua, who is participating in the Hub coal-fired power plant’s construction was quoted by Xinhua news agency on Tuesday. “We also try to group more and more local communities into our project to dispel their worries.”
Wang said he planned to enroll a number of Pakistani graduates… and provide them skills training, who will be an important human resource for the country.”
He added, “If they leave the Hub plant, they will likely get another opportunity to other plants. It will make this industry in Pakistan more sustainable.”
He said the power plant in Balochistan would benefit the public and the government after its completion in 2019 in mitigating the power outages and help move the wheel of the economy.
The coal-fired power plant, which is one of the ‘priority projects’ under the China-Pakistan Economic Corridor (CPEC), is being financed and built by China Power International Holding, a subsidiary of China's State Power Investment Corporation (SPIC) and Pakistan's Hub Power Company Ltd, at a total cost of some $2 billion.
The agency quoted Wang as saying that after the completion of the project, local people will enjoy cheaper electricity and about four million Pakistani families will benefit from the power plant, adding that the coal-fired power plant also gives variety to Pakistan's energy consumption system so as to help the country ensure its energy security.
"A country cannot rely on just one source of energy. Coal-fired power plants, gas-fired power plants, solar farms, wind energy, bio-energy, and other new energies should all be utilised in order to guarantee energy security. Therefore, it is necessary for Pakistan to build the coal-fired power plant," Wang said.
"As to the Hub project, our company attached great importance to five issues, namely the plant's safety, operation reliability, environment-friendly standards, economy, and adjustability. And I'm confident to say that we are providing an excellent and responsible service to Pakistan since all of the equipment to be used in the project is top class globally," the Chinese entrepreneur said.
The SPIC chairman emphasised that although the Hub project is a coal-fired power plant, top international technologies on environmental protection and emission reduction will be used in the complex so as to meet local or even stricter legislation on coal-fired plants.
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"We are adopting a super clean emission technology which could make the emissions at the plant the same as a gas-fired power plant. And with the Hub project, we also plan to build a cement factory nearby so as to utilise all wasted dust produced by the power plant," he added.
According to Wang, the Hub coal-fired power plant is expected to be fully operational in August 2019 and it will generate about 9 billion kWh of electricity to the Pakistani national grid annually. It will also create about 10,000 jobs for local people during its construction.
Talking about the security situation in Balochistan, Wang expressed confidence and trust towards the Pakistani government, saying that the Pakistani side is very considerate regarding security issues and can provide the necessary security for power plants.
A top Chinese power investor has said his country’s interest in Pakistan is focused on sustainable development rather than reaping profits.
“We come to Pakistan, not for the installation of our equipment and gain profits. We pay more importance to improving the development of local high-end manufacturing industries so as to make the development sustainable,” Wang Binghua, who is participating in the Hub coal-fired power plant’s construction was quoted by Xinhua news agency on Tuesday. “We also try to group more and more local communities into our project to dispel their worries.”
Wang said he planned to enroll a number of Pakistani graduates… and provide them skills training, who will be an important human resource for the country.”
He added, “If they leave the Hub plant, they will likely get another opportunity to other plants. It will make this industry in Pakistan more sustainable.”
He said the power plant in Balochistan would benefit the public and the government after its completion in 2019 in mitigating the power outages and help move the wheel of the economy.
The coal-fired power plant, which is one of the ‘priority projects’ under the China-Pakistan Economic Corridor (CPEC), is being financed and built by China Power International Holding, a subsidiary of China's State Power Investment Corporation (SPIC) and Pakistan's Hub Power Company Ltd, at a total cost of some $2 billion.
The agency quoted Wang as saying that after the completion of the project, local people will enjoy cheaper electricity and about four million Pakistani families will benefit from the power plant, adding that the coal-fired power plant also gives variety to Pakistan's energy consumption system so as to help the country ensure its energy security.
"A country cannot rely on just one source of energy. Coal-fired power plants, gas-fired power plants, solar farms, wind energy, bio-energy, and other new energies should all be utilised in order to guarantee energy security. Therefore, it is necessary for Pakistan to build the coal-fired power plant," Wang said.
"As to the Hub project, our company attached great importance to five issues, namely the plant's safety, operation reliability, environment-friendly standards, economy, and adjustability. And I'm confident to say that we are providing an excellent and responsible service to Pakistan since all of the equipment to be used in the project is top class globally," the Chinese entrepreneur said.
The SPIC chairman emphasised that although the Hub project is a coal-fired power plant, top international technologies on environmental protection and emission reduction will be used in the complex so as to meet local or even stricter legislation on coal-fired plants.
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"We are adopting a super clean emission technology which could make the emissions at the plant the same as a gas-fired power plant. And with the Hub project, we also plan to build a cement factory nearby so as to utilise all wasted dust produced by the power plant," he added.
According to Wang, the Hub coal-fired power plant is expected to be fully operational in August 2019 and it will generate about 9 billion kWh of electricity to the Pakistani national grid annually. It will also create about 10,000 jobs for local people during its construction.
Talking about the security situation in Balochistan, Wang expressed confidence and trust towards the Pakistani government, saying that the Pakistani side is very considerate regarding security issues and can provide the necessary security for power plants.