THE Economic Coordination Committee of the Cabinet (ECC), on Tuesday, approved a summary moved by Pakistan Atomic Energy Commission (PAEC) regarding the issuance of Government’s guarantee for Chashma Nuclear Power Plant-5 (C-5), completing another formality towards expeditious implementation of the crucial project. According to the terms of the agreement, China will provide the 21.3 billion RMB loan or $3 billion for a period of 20 years. China will charge 3% interest rate and the repayments will start after eight years. However, Pakistan is required to issue the sovereign guarantees for the repayment of the Chinese debt along with the interest rate.
The C-5 is going to be the flagship nuclear power project of the PAEC as, on completion, it would add 1200 MW of electricity to the national grid, more than any other nuclear power plant in the country. In fact, successful completion and operation of two major projects – K-2 and K-3 – with a combined capacity of 2200 MW of electricity encouraged the Commission to go for the biggest venture (C-5) in collaboration with our trusted friend China. The plant, known as Chashma-5, or C-5, will feature what China says is its domestically developed third-generation pressurized water nuclear technology, the Hualong One or HPR1000, with advanced safety and foolproof security features. China’s CNNC is currently building four HPR 1000 nuclear power units around the world including in the UK, besides eleven under-construction units in China which speaks volumes about quality standards and reliability of this technology. The latest project would bring PAEC one step closer to its envisaged goal of production of 8,800 megawatts electric, cheap and clean energy which would be a major achievement of the Commission given the classic discrimination being meted out to the country by members of the so-called Nuclear Suppliers’ Group (NSG). Chinese cooperation in the realm of civil nuclear technology and the energy sector is a source of strength for people of Pakistan as they are striving to overcome crippling energy shortages through different means. It may be noted that China built and put in commercial operation 14 power plants in Pakistan during the last ten years with a total installed capacity of 8,000 MW, contributing significantly to efforts of the country to move towards energy security. As for C-5, it is time, Pakistani scientists, engineers and technicians are closely involved in all phases of its construction and an understanding is reached for local manufacturing of at least those parts that need frequent replacement.
