Pakistan, China Sign $4.8 Billion Deal for 1,200 MW Nuclear Power Plant

China and Pakistan have signed a $4.8 billion deal on the construction of Pakistan’s seventh nuclear power plant. In the city of Chashma in central Pakistan, the 1,200-megawatt Chashma 5 power plant will be built. Under the direction 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 pressurised 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 where Chinese businesses and investors continue to demonstrate their faith in,” the PM said.

He thanked Beijing for providing a more than $100 million discount for the power plant known as Chashma 5. The project’s work was originally scheduled to begin a few years ago. The PM claimed that despite the lengthy delay, the Chinese partners had not rescheduled costs.

The coalition government of the PM is having a difficult time handling Pakistan’s unanticipated economic problems, which include a balance of payments crisis.

In the southern port city of Karachi, China has also recently built two nuclear power plants, each with a 1,100-megawatt generation capacity.

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 output has increased to more than 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 fully operational K2 and K3. Similarly, more than 1,300 megawatts are provided by the nuclear power plants at Chashma.

This collaboration will be helpful in ending Pakistan’s crippling energy crisis and generating tens of thousands of jobs.

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