Chinese company proposes $15b scheme
Three Gorges Project Corporation proposes $15bn for hydroelectric project and $50m for survey.
In a bid to control the floods and tackle electricity shortage in Pakistan, a Chinese company has proposed a $15 billion hydro-power scheme to create a dam along the Indus River at several points, reported Express 24/7.
This deal is the latest example of China’s interest in Pakistan. Minister for Petroleum and Natural Resources Asim Hussain said that the Three Gorges Project Corporation of China has even agreed to fund a $50 million survey to lay the groundwork for this project. Last year, Pakistan and China agreed to an investment deal to build the Bunji dam.
The $15 billion proposal would cover Bunji and other sites on the upper and lower Indus including Kohala and Dassu. Meanwhile, a local government representative confirmed that both sides are working on the details and priorities of the deal for Pakistan.
Published in The Express Tribune, June 9th, 2011.