Fri November 24, 2017
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

Web Desk
October 24, 2017
Advertisement

Pakistan’s Hubco coal power plant signs loan contract with Chinese banks

Pakistan’s Hubco coal power plant signs loan contract with Chinese banks

CHENGDU: A joint China-Pakistan coal-fired power plant signed a loan contract with banks in southwest China's Sichuan Province, Xinhua news agency reported.

Hubco Coal Power Plant raised 1.5 billion U.S. dollars from a consortium of banks led by China Development Bank.

Construction of the power plant, costing about 2 billion U.S. dollars, began in March by China Power Hub Generation Company, a joint venture between Pakistan's Hub Power Holdings Ltd. and China Power International Investment Ltd.

With a total capacity of 1.32 gigawatts, the project comprises two coal-based power plants with capacity of 660 MW each.

The power plant is expected to start operations in August 2019, eventually producing 9 billion kwh, meeting needs of 4 million Pakistani households and create 10,000 jobs in the country.

It is also one of the projects of China-Pakistan Economic Corridor, which connects Kashgar in northwest China's Xinjiang Uygur Autonomous Region with Gwadar Port.

Advertisement

Comments

Advertisement

In This Story

Advertisement