Islamabad: China inked an agreement worth a whopping USD 4.8 billion with cash-strapped Pakistan to set up a 1,200-megawatt nuclear power plant as a sign of increasing strategic cooperation between the two all-weather allies.
Prime Minister Shehbaz Sharif witnessed the signing of the deal under which Beijing would build a 1,200-megawatt Chashma-V nuclear plant at Chashma in the Mianwali district of Punjab. In his address, Sharif termed the nuclear power plant agreement signing as a token of increasing economic cooperation between Pakistan and China and vowed to complete the project without any delay.
He said under a difficult economic situation, Pakistan was getting an investment of USD 4.8 billion from China in this project, which “sends the message that Pakistan is a place where Chinese companies and investors continue to show their trust and faith”.
Sharif said the Chinese companies gave special concessions which would save billions of rupees in this project.
He expressed confidence that Pakistan would come out of the current economic difficulties with the help of China and other friendly countries. Sharif said Pakistan was also engaged with the International Monetary Fund to finalise the 9th Review and met all conditions required by the Washington-based global lender.