China to invest $6bn in Pakistan's energy sector

A Chinese investment corporation will invest USD 6 billion in the energy sector of Pakistan during the next five years that would help Pakistan overcome it's energy crisis. According to an official press release, Chinese CWE Investment Corporation is already running nine projects in Pakistan and is willing to invest USD 6 billion in energy sector to ensure the availability of sufficient power supply in Pakistan in the future. The Vice President of CWE Investment Corporation, Wang Shaofeng had a meeting with Pakistan's Chairman of the Board of Investment (BoI), Mohammad Zubair, briefing him about ongoing energy projects in Pakistan. Wang Shaofeng said that the construction of 50 MW three gorges first wind farm 50 MW started in January, 2013, while its financial closing is almost completed. Shaofeng said that 720 MW Karot hydropower project is at its first stages (feasibility stage) and that the tariff has been approved by NEPRA, said a BoI statement. The company is also working on construction on Taunsa Hydropower project of 120 MW, two three-gorges wind farm of 450 MW projects, wind measurement project in Punjab province, 50MW solar power project in Punjab and 50 MW solar power project in Sindh province.