ISLAMABAD: China’s State Grid Corporation has signed a deal with Pakistan’s Ministry of Water and Power to invest in and build a power transmission line in Pakistan.
This was announced by the state-owned Assets Supervision and Administration Commission in a statement on Wednesday.
According to a report, Beijing’s state grid under the deal will invest some $1.5 billion in the 4,000 megawatt (MW) power transmission line.
The project is part of the China Pakistan Economic Corridor (CPEC) initiative, which drew $55 billion in the latest round of Chinese investment.
The CPEC projects focus on road building and energy infrastructure to end chronic power shortages in Pakistan and to link China’s landlocked north-west with the deep-water port Gwadar on the Arabian Sea.