China offered financial and technical assistance on Wednesday to help develop hydro and wind power in Pakistan, upgrade existing transmission system and provide an integrated solution to power shortage and disruption in the country.
Cao Guangjing, chairman of Three Gorges Project Corporation (CTGPC), China’s pioneer in hydro power development, said the state- owned corporation intended to invest 10 billion to 15 billion U.S. dollars in Pakistan, according to presidential spokesman Farhatullah Babar.
The company offered to develop multi-purpose hydro electric projects through direct financing model based on public-private partnership and BOOT (build, own, operate and transfer) basis, he said.
Babar said the Chinese company is already involved in a number of multi-purpose hydro and wind power projects in the country.
President Asif Ali Zardari said that a free trade agreement between Pakistan and China ensured full security to Chinese investment in Pakistan.
