Pakistan, China sign $4.8 billion deal for 1,200 MW nuclear power plant
China and Pakistan have signed a $4.8 billion deal to build Pakistan’s seventh nuclear power plant. The 1,200 megawatt Chashma 5 power plant will be built in the city of Chashma in central Pakistan. Under the leadership of the Prime Minister, the Pakistan Atomic Energy Commission and China National Nuclear Cooperation signed this agreement.
The nuclear power plant will be built using the Chinese company’s HPR 1000 technology, also known as Hualong One or HPR 1000. It will be Pakistan’s third facility to use the pressurized water reactor technology or HPR 1000.
Pakistan, China sign $4.8 billion deal for 1,200 MW nuclear power plant
“China’s $4.8 billion investment in this project sends a loud and clear message that Pakistan is a place that Chinese companies and investors continue to show confidence in,” said the prime minister.
He thanked Beijing for providing a discount of more than $100 million for the power plant known as Chashma 5. Work on the project was originally scheduled to begin a few years ago. The prime minister claimed that despite the lengthy delay, the Chinese partners had not rescheduled the costs.
The prime minister’s coalition government is struggling with Pakistan’s unexpected economic problems, including a balance of payments crisis.
In the southern port city of Karachi, China also recently built two nuclear power plants, each with a generating capacity of 1,100 megawatts.
According to Pakistani officials, the two third-generation Hualong One reactors, known as K2 and K3, were supplied by China. They cost about $10 billion. Pakistan’s nuclear energy production has risen to over 3,500 megawatts thanks to its advanced safety and foolproof security features.
According to PAEC, 2,200 megawatts of electricity are supplied to the national grid by the fully operational K2 and K3. Likewise, more than 1,300 megawatts are provided by the Chashma nuclear power plants.
This cooperation will be instrumental in ending Pakistan’s crippling energy crisis and generating tens of thousands of jobs.
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