Prime Minister Shehbaz Sharif signed a memorandum of understanding for the construction of Chashma-5 nuclear power plant project worth $3.48 billion.
The China National Nuclear Corporation Overseas Ltd president and Pakistan Atomic Energy Commission Member Power Muhammad Saeedur Rehman signed the MoU.
Addressing the signing ceremony in Islamabad on Tuesday morning, the prime minister called the launch of the 1,200-megawatt project economically significant and a milestone for both China and Pakistan.
The agreement, he said, would boost trade between Pakistan and China.
He also congratulated the Pakistani nation that Chinese state-owned company, China National, and the Pakistan Atomic Energy Commission signed the agreement for 1,200MW C-5 nuclear plant.
“Such projects are producing thousands of megawatts of electricity. Recently, I also inaugurated the K-4 project in Karachi,” Shehbaz said at the event.
PM Sharif said Pakistan is a place where Chinese companies and investors continued to show their trust and faith.
“Not only that, this reflects that the friendship between the two countries is higher than the Himalayas, deepest than the deepest oceans and sweeter than sugar and honey, and stronger than iron.”
Chinese President Xi Jinping has called the countries iron brothers, Sharif maintained, adding that Pakistan was faced with economic challenges, as it was engaged with the International Monetary Fund and trying to finalize the Fund’s ninth review.
“Pakistan has met all the terms and conditions required by the IMF. We thought this would have been done two or three months ago, but there has been an inordinate delay, and I must tell my brothers and sisters that China once again came to our help and rescue. A friend in need is a friend indeed. Other than China we also have our brotherly nationals Saudi Arabia, the UAE and Qatar helping and supporting Pakistan, but at this juncture, Chinese financial support has been outstanding,” the premier stressed.
He then thanked President Xi Jinping, the Chinese leadership, Finance Minister Ishaq Dar and his team, Planning Minister Ahsan Iqbal and Energy Minister Khurram Dastgir Khan for their efforts in materializing the agreement.
