On March 6, the confirmation letter for the financing closure of the TEL1x330MW power station project (phase II) in Block II of Thar Coalfield in Sindh Province, Pakistan, which CMEC as a shareholder has undertaken, was issued, marking the official initiation of the project and another remarkable achievement of the China-Pakistan Economic Corridor.

This project is among the priority list for the China-Pakistan Economic Corridor, with a total investment of over USD500 million. Led by China Development Bank, the Chinese bank consortium, including China Minsheng Bank, raised over USD260 million for the project.

The initiation of the project is of great significance in the large-scale development and utilization of coal resources in Pakistan’s Thar region. Also, the project is located in a remote area. Its construction will significantly improve the local infrastructure and poor and backward living standards so as to provide demonstration and guidance for the follow-up cooperation of the China-Pakistan Economic Corridor.