Chinese firm to invest in Thar coal, energy project

KARACHI: A Chinese company Kingho Group intends to invest in Thar Coal and Energy project.

An official statement here on Saturday said that a 14-member delegation of the company called on Sindh Chief Minister Syed Qaim Ali Shah at the C.M. House here.

Shah said on the occasion that there are cordial relations between Pakistan and China and these relations will be cemented further with the passage of time.

Syed Qaim Ali Shah stated that President Asif Ali Zardari has paid several visits to China and has undertook efforts to increase the investment in various sectors.

He assured the Chinese company that Sindh government will provide all required facilities and that full security to the Chinese company would be made available.

The leader of the Chinese delegation, Zou Yi, in his briefing informed the Chief Minister Sindh that Kingho group being the largest private group has a manpower of 64,000 and possess 22 billion tons of reserves of coal and 800 million tons of Iron ore.

He added that his company has collected necessary data and figures, while meetings have been held with concerned authorities.

Advisor to Prime Minister Kamal Majeedullah hoped that both the countries will extend cooperation in the fields of mining and power generation.

The meeting was informed that the evaluation committee has already cleared the scheme and agreement draft is being prepared jointly by government of Sindh and Kingho company.

It was further informed that the meeting of Thar Coal and Energy Board will be held on May 11 in which draft agreement for MoU will be finalized.