Sheng Yuming, Chairman of POWERCHINA Resources Limited, has said that his company is looking up for new venture of energy in Pakistan to invest.
He said that the Chinese president and Pakistani government signed the CPEC project two years back. Congratulating Pakistan on the launch of coal-based power plant at Port Qasim, he said that this plant will generate the cheapest energy because of low cost of fuel and transportation. This project is environmental-friendly. The 2nd unit will start functioning in February 2018.
The chairman added that the most important part of the Port Qasim project is providing more sufficient, affordable, cleaner, cheaper and sustainable energy to the people of Pakistan. He also added that the company will soon invest in other power projects as well.
The Chairman added that capacity building programmes are also being held to train Pakistani youth. He said that we have hired 102 Pakistani youth and trained them in China with full scholarship. Now all the 102 youth are conducting the project operation management.
Replying to another question he said that China desires economic development in Pakistan.
Port Qasim Coal-fired Power project is the first large-scale energy project of China Pakistan Economic Corridor (CPEC). This project is located 37 km south side of Karachi, the biggest city of Pakistan.
Jointly developed by POWERCHINA RESOURCES LIMMITED and QATAR AL MIRQAB Capital, the total capacity of the project is 1320 megawatts. Its average annual energy output after completion will be around 9000GWh and the project will play an important role to minimize the energy shortage in Pakistan.
POWERCHINA enjoys unique competitive edge of superior knowledge in water and power, expertise in planning and engineering strength in construction and installation, and ability on investment and operation. By integrating its superior resources of engineering, supervision, construction and operation to drive the exploration of overseas markets, the company has help to achieves Chinese national standards technologies, equipment and cultural to “Go-Global”.
POWERCHINA RESOURCES LIMMITED is an important overseas investment arm of POWERCHINA, and has already established more than 30 companies in different levels in about 10 countries including Pakistan, Laos, Nepal, Cambodia, Indonesia, and Congo etc., including eight projects in operation and six projects under construction.
To a question, the chairman of Powerchina Resources said that Port Qasim Power Project directly creates over 4000 job opportunities to Pakistani engineers and labors during construction period, and will annually create around 500 training and job opportunities to Pakistani talents during operation period.