China to give Pakistan 6.5 billion dollars loan for nuclear power project

Eurasia News

ISLAMABAD: China will give 6.5 billion dollars loan to Pakistan to finance the construction of the country’s largest nuclear power project which will have two reactors with a capacity of 1,100 megawatts each in Karachi.

The groundbreaking ceremony of the 9.59 billion dollars project was held on November 26. Prime Minister Nawaz Sharif performed the groundbreaking and announced that six similar projects were in the pipeline which would make nuclear energy the key source of power and ultimate panacea for the power crisis.

The Pakistan Atomic Energy Commission (PAEC) Chairman Ansar Parvez said that China has complete confidence in Pakistan’s capacity to run a nuclear power plant with all checks in place.

The PAEC chairman said that it would be completed by 2019 and each of the two reactors would be larger than the combined power of all nuclear reactors now operating in Pakistan.