CPEC s Karot Hydropower Project to be completed in Apr 2022 Thu 13th May 2021 | 05:40 PM
BEIJING, (UrduPoint / Pakistan Point News - 13th May, 2021 ) :The Karot Hydropower Project worth US$1,780 million under ChinaPakistan Economic Corridor (CPEC) will be completed in April 2022.
Up to 88 percent of the work on the Karot Hydropower Project has been completed. The hydro power project - the first of its kind under the CPEC - is being built on the River Jhelum, according to a report published by China Economic Net on Thursday.
The project is being developed on a Build-Own-Operate and Transfer (BOOT) basis at an estimated cost of $1.98bn including a development cost of US$1.698bn and interest during construction of US$243m by Karot Power Company Private Ltd, comprising of M/s Three Gorges South Asia Investment Ltd (TGSAIL) and Associated Technologies (Pvt) Ltd of Pakistan.
It is difficult to calculate the real impact of COVID-19 pandemic on the global economy. According to World Bank’s Global Economic Prospects report, the global economy probably shrank by 4.3% in 2020 due to the ongoing pandemic.
China’s economy grew by 2.3% last year - the slowest pace in four decades. China’s strict lockdown measures, targeted support to businesses and rapid vaccination drive have put the economy back on a growth path with 6.5% growth in the last three months of 2020.
Launched in 2013, Belt and Road Initiative (BRI) strategically focused on leveraging the physical proximity advantage by reaching out to 138 countries. By early January 2020, BRI had planned to invest more $3 trillion in 2,971 projects.
ISLAMABAD, May 13 (Gwadar pro) - Chinese Ambassador to Pakistan Nong Rong said on Wednesday afternoon that China wanted to further expand cooperation with Pakistan.
In a meeting with National Assembly Speaker Asad Qaiser, the envoy discussed matters pertaining to bilateral relations, important regional and global issues and other issues of mutual interest that came under discussion during the meeting.
Nong Rong said that China valued its ideal friendship with Pakistan and friendship with Pakistan was of key importance in our foreign policy.
Speaking on the occasion, NA Speaker Asad Qaiser said that Pakistan was proud of its lasting friendship with China and the unique friendly relations between Pakistan and China were an example to the world. He said the relations between the two friendly countries are based on mutual respect, trust, interests, and strategic partnership.
Daily Times
May 13, 2021
The Chairman of China-Pakistan Economic Corridor (CPEC) Authority, Asim Saleem Bajwa has said that 88 percent of 720MW Karot HydroPower Project has been completed. In a tweet Asim Bajwa said that the first CPEC Karot Hydro project which is located at Jhelum River in Punjab is expected to be completed in April 2022. He said that total investment on the project is $1720 million while 5000 direct local employment opportunities were created under this project.
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1057 LARGER SCOPE: Chinaâs role in Chabahar should be seen beyond the Delhi-Beijing tug of war. Reuters
ABHIJIT BHATTACHARYYA
Commentator and Author
IN hindsight, the recent statement of Iranian Foreign Minister Javad Zarif wasn’t unexpected: “China wants to play a role in the Chabahar (port) project”. It’s Iran’s nudge to India about the arrival of Beijing in a territory where New Delhi enjoyed prime privilege for some time. Does it constitute a major breakthrough by the Communist Party of China (CPC) by creating a coveted space for itself to counter and confront India in a strategic seaport in a third country? Can India avoid future pressure and tensions in a long, connected terrain spanning Pakistan, Iran and Turkey?