Thursday, April 17, 2014


Pakistan

China Lends Pakistan $6.5 Billion For Nuclear Power Stations

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China is providing Pakistan with a loan of some $6.5 billion for use in constructing two nuclear power stations in Karachi.

Pakistan's Finance Ministry confirmed the deal on January 2, saying the loans are coming from China's Exim Bank.

Construction actually started on the two plants last year but Pakistani officials revealed for the first time on January 1 that the loans for the project are coming from the state-owned Chinese bank.

When launched, the K-2 and K-3 nuclear plants would boost electricity production in Pakistan by some 15 percent.

Pakistan suffers from chronic energy shortages and has been seeking outside help to increase power generation.

China is also constructing a major hydropower plant in Pakistan's Kashmir region and Iran has proposed building a pipeline to export gas to Pakistan.

Based on reporting by AFP and "Financial Times"

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