ISLAMABAD: China has reportedly sought replacement of M/s China Communication Construction Company Limited (CCCC) with China Communications Construction Group (CCCG) to set up a 300-MW power project at Gwadar as the former is said to be reluctant to invest in “risky” Balochistan, well informed sources in PPIB told Business Recorder.

Pakistan and China in order to foment cooperation in energy projects entered into the China-Pakistan Economic Corridor Energy (CPEC) project cooperation agreement on November 8, 2014, which also included a 300 MW power project at Gwadar, Balochistan.

In 6th meeting of the Joint Cooperation Committee (JCC) on CPEC, held on December, 29 2016, it was agreed for early issuance of Letter of Intent (LoI) to CCCC or its nominated subsidiary. Accordingly, a summary was moved by Power Division (erstwhile Ministry of Water and Power) for approval of the ECC in terms of Rule 5 of PPRA Rules.

Published in Business Recorder, 26th August, 2018

https://epaper.brecorder.com/2018/08/26/1-page/735148-news.html