PowerChina Eyes at Industrial Parks for New Endeavor: Sheng Yeming
KARACHI – Chairman PowerChina Resources Limited and Port Qasim Coal-Fired Power Plant Mr. Sheng Yuming while talking to media here on Thursday morning said that PowerChina is looking for New Venture at industrial parks that are being constructed for enhancing economic activities under China Pakistan Economic Corridor (CPEC).
He stated after the success of Port Qasim Power-Plant, now the company is looking into other investment opportunities in power sector. PowerChina Resources Company will explore future investment in Industrial Parks, Hydel Power, Wind Power, Solar and other sectors. Port Qasim power plant was the first power project under CPEC said Sheng Yeming.
He said some projects are in pipeline and some are under phases of discussion.
Port-Qasim Plant & Capacity
Giving briefing to the media about the Port Qasim Power-Plant, Chief of the POwerChina Resource said that two projects of Port Qasim Power Plant with a capacity of 2×660 MW have added more than 10 billion kWh electricity to the National Grid Station in one year.
“Pakistan will get rid of energy shortage in coming three years” Mr. Sheng Yuming said. He added that once all the power projects under CPEC have been completed, Pakistan will be able to ponder on economic growth and develpoment. “This is what china did morw than 30 year before said Mr. Sheng Yuming said.
The construction of PowerChina project with AMC was officially launched on May 21, 2015, under the MoU signed between Pakistan and China, on President Xi’s visit to Pakistan later the year.
Impact of devaluation on PowerChina Project:
Replying to a question about the “impact of Pakistani rupee devaluation” over Port Qasim Plant operations, he stated that despite the rupee depreciation, the plant did not transfer the load of losses to Pakistani consumers as per the terms of coal imports. He added that we are in loss but will fulfill the agreement.
Talking about debt faced by Pakistan, Mr. Sheng said that the circular debt is a major problem which is also impacting PowerChina now and working closely with the NTDC and CPPA as circular debt is throbbing the company too. He said that around US$ 150 million areas of Port Qasim Power Plant with the CPPA. “We need our overdue payments to ensure our operations are not affected. Hope things would soon settle down amicably,” he said.
Chainman PowerChina said that the company over the past years has paid US$ 240 Million to the government of Pakistan in terms of duties and taxes that helped Pakistan to strengthen its economy.
Environmental Impact
- 1:5 tree of Mangroves:
- State of the art Technology Supercritical Technology
- Recycling Water Plant
- Best Quality Coal
Replying the query of the correspondent, about environment protection measures, Vice President Mr. Sun Shuhua said that PowerChina had adopted best international standards and most modern technology to ensure generation of clean and green energy as “shared responsibility.
He added that there are normally two impacts of coal power i.e. impact in air, and in water. We are currently using supercritical technology which is the most advanced technology in the world to ensure clean energy. We also cater to China’s environment standard which is again the highest in the world,” he said. He added that PowerChina had invested a huge amount to ensure clean energy.
He said that the company invested USD$ 500 million in mangroves trees near the plant with a 1:5 ratio on site to ensure the protection of the environment and make it green.
He said to protect the sea from pollution “ The company ensured not to add a single drop of polluted water in the sea before it filtered”.
Job Opportunities
Company CEO Mr. Guo Guangling, replying to a question said that PowerChina had hired 4000 Pakistani youth to the plant construction phase. He said we also trained some of 100 selected Pakistani in China for the project and now they are working with the company. He said training and human development is also a goal of the PowerChina.
