Pakistan and China sign $4.8 billion nuclear power plant deal
Tags: International News
Pakistan and China recently have signed a $4.8 billion deal to construct a 1,200-megawatt nuclear power plant.
An overview of the news
The investment by China, which Pakistan considers its most dependable ally, is viewed as a significant achievement.
The project, known as Chashma 5, will be located in the central province of Punjab.
The memorandum of understanding (MOU) was signed between China National Nuclear Cooperation and Pakistan Atomic Energy Commission, marking the beginning of the project.
The Chashma 5 project will aid Pakistan in transitioning away from reliance on fossil fuels and contribute to its nuclear energy production capacity.
Pakistan's total nuclear energy production capacity reached 1,400 MW with the opening of the country's sixth nuclear power plant in Karachi, which was also constructed with Chinese assistance.
The investment is separate from the $65 billion that China has pledged for infrastructure development in Pakistan under the Belt and Road Initiative.
Chinese side has already disbursed an initial amount of 30 billion Pakistani rupees ($104.53 million) for project initiation.
Nuclear power plant in Pakistan
The Pakistan Atomic Energy Commissionstates that the four existing Chashma power plants have a combined installed capacity of 1,330 megawatts.
Apart from the Chashma power plants, Pakistan also operates two other nuclear power plants known as Karachi Nuclear Power Plants (KANUPP) 2 and 3.
The Karachi Nuclear Power Plants have a substantial capacity of 2,290 megawatts, further enhancing Pakistan's nuclear energy generation capabilities.
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