Chashma Nuclear Power Project 2008-09: 2 new power plants worth Rs 129.374bn
ISLAMABAD: Pakistan has decided to launch two new nuclear power projects at Chashma worth Rs 129.374 billion that would generate 640 MW power to induct into national grid.
These plants include Chashma Nuclear Power Project (c3) and Chashma Nuclear Power Plant (c4) and government has allocated Rs 100 million for these nuclear power projects in the Public Sector Development Programme (PSDP) 2008-09.
Sources said that each nuclear power plant would have the power generation capacity of 320 MW and each project would cost Rs 64.687 billion. Government would arrange Rs 80.36 billion from international donors' institutions and countries.
They further added that these new nuclear power projects are the part of the government's 2030 vision strategy under which over 8,000 MW power by nuclear projects would be generated by 2030.
Pakistan had planned to set up four new nuclear power plants in its strategy for financial year 2008-09 of 1,280 MW power and however two nuclear power projects would be launched in the coming financial year 2008-09. These nuclear power projects are the phase 3 and phase 4 of Chashma Nuclear Power Plants.
The first phase project of Chashma Nuclear Plant was commissioned in September 2000. A Chinese Company is already working on the second phase of Chashma Nuclear Power Plant and in May 2004, Pakistan and China signed a contract to jointly build the second phase project of Chashma Nuclear Power Plant.
Sources said that Pakistan has sought financial and technical help from China for setting up of these two power nuclear power plants of 320 MW each and submitted feasible studies of these projects to China. They said that China has agreed to provide financing and technical assistance for these nuclear power projects.
Sources said that Pakistan would also seek help from other countries and however, major chunk of the financing would come for these power plants would come from China. They said that Chinese companies are already working on mega power projects in Pakistan.
The government had also planned to set up two nuclear power plants at Karachi but the plan had not been shelved due to financing problems for the said projects. They said that the Finance Ministry is also working to seek financing from other countries besides China and would also evolve a strategy to engage the countries in a joint venture to provide financing for the said projects.
Daily Times - Leading News Resource of Pakistan