China to invest $50 billion to develop Indus River Cascade

- Advertisement -

Following up on CPEC mega investment, China is going to bring life to Pakistan’s struggling energy sector. In Memorandum of Understanding signed on Saturday between Pakistan and China both are agreed upon $50 billion investment from China for developing North Indus River Cascade with can generate 40,000 MW of power.

China to invest $50bn for mega dams in Pakistan

MoU was signed during Prime Minister Nawaz Sharif’s visit to China. To add this to existing CPEC investment $62 billion which brings up to total $112 billion. After this investment China has become the biggest investor in infrastructure projects in Pakistan.

Potential to Produce 60,000 MW

- Advertisement -

Studies conducted by WAPDA (Water and Power Development Authority) suggest that Pakistan has potential to generate 60,000 Mega Watts of power through hydroelectric power plants.

SEE ALSO: Uber Commits to Invest $500 Million in Pakistan in Three Years

- Advertisement -

40,000 Mega Watts of potential power could be produced from Indus River Cascade which begins from Skardu and runs throughout the Khyber Pakhtun Khaw all the way to Terbela Dam.

Bhasha Dam Project Out of Limbo?

One of the projects in the Indus River Cascade is the Diamer-Bhasha Dam project, which needs a $15 billion investment. The Bhasha dam project didn’t have any takers until China came along.

- Advertisement -

Another project in Indus River Cascade is Diamer-Bhasha Dam and $15 billion investment is required for this project to be completed. China conducted surveys and studies on North Indus River Cascade at various sites which include Pattan, Thacoast, Dasu, Bunji and Diamer in Feb this year.

Beijing decided in a high-level meeting to conduct a detailed study over 3 months to develop a financing roadmap including details about the start and end of the project.

This will be the first private sector investment in hydel mega projects, WAPDA has led these projects until now.

The Biggest Dam Maker

Back in 2015, China Three Gorges Corporation (CTGC) said that they were ready to participate in a financing consortium to invest $50 billion in Pakistan’s hydel power projects. CTGC is owned by the Chinese government. It has built the Three Gorges Dam, which houses the world’s biggest hydroelectric power plant with a capacity of 22,500MW.

This is a mere 1,000 MW less than the total installed power capacity of Pakistan at 23,500MW.

- Advertisement -
63045c01f4ad860aad8ad74961a9564b - China to invest $50 billion to develop Indus River Cascade
Adeel Younashttps://techwafer.com
Editor-in-Chief at TechWafer (previously The Tech) an Entrepreneur, Blogger, Developer, and Freelancer.

More from author

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Advertisment

Latest posts

Infinix partners with Free Fire to encourage Esports in Pakistan

Infinix, a leading smartphones brand has partnered with ‘Free Fire’ – a globally popular digital gaming platform. This resourceful collaboration will promote Esports among...

vivo Marks 4th Anniversary with Renewed Commitment and Dedication to Pakistan

vivo, the leading global smartphone brand, marks the completion of four years in Pakistan. In the span of 4 years, vivo has made deep...

vivo Ranked among Top 5 Global Smartphone Brands in Q2 2021, According to Canalys

According to the latest data from Canalys, vivo ranked fifth in global smartphone shipments with a market share of 10 percent in the second...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!