Gwadar, 10 March 2023 (GNP): The Belt and Road Initiative (BRI), which was initiated by China, will celebrate its 10th anniversary this year, along with the China-Pakistan Economic Corridor (CPEC), which is why POWERCHINA is celebrating its 10th anniversary.
Since it first entered the Pakistani market in 1987, POWERCHINA, one of the major companies involved in the building of the CPEC, has been active in a number of sectors including energy, electricity, water management, and infrastructure investment.
The Gomal Zam Dam Multipurpose Project, the first mainstream hydropower station on the Indus River, the Tarbela 4th and 5th Extension Hydropower Project, the largest installed wind power station, the Tricon Boston 150 MW Wind Power Project, Ghazi-Barotha Hydropower Project, largest installed hydropower station and first roller-compacted concrete (RCC) dam in Pakistan are comprised of those 103 projects which were completed in Pakistan by POWERCHINA over the past 36 years.
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POWERCHINA has taken part in the investment and development of 11 of the first 20 energy and infrastructure projects of the CPEC during the past ten years. POWERCHINA has consolidated the conventional power industry while continuing to advance other industries and innovative energy research.
The Diamer Basha Dam Project, Pakistan’s largest hydropower hub project now being built by POWERCHINA, will grow to be the tallest and largest RCC dam in the world and supply Pakistan with 18.1 billion KWh of clean electricity annually.
Nadeem Ilyas, a Pakistani project engineer, believes that one of the project’s many beneficial outcomes would be the creation of more than 20,000 new employment possibilities as it moves forward.
POWERCHINA, one of the top businesses in China, has completed the building and operation of high-quality clean energy projects in compliance with international standards.
Moreover, it is dedicated to enhancing Pakistan’s infrastructure and reducing regional power shortages. It has made significant contributions to Pakistan’s sustainable development in addition to being instrumental in the creation of CPEC.
10 years of CPEC
The China-Pakistan Economic Corridor (CPEC) has marked its 10th anniversary, celebrating a decade of economic partnership between China and Pakistan. CPEC is a flagship project of China’s Belt and Road Initiative (BRI) that aims to connect Asia with Europe and Africa through infrastructure and trade.
The project involves the development of a network of roads, railways, ports, and other infrastructure projects that will connect the Chinese city of Kashgar to the Pakistani port of Gwadar.
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Over the past decade, CPEC has seen significant progress, with the completion of several key infrastructure projects, including the Gwadar port and the Karakoram Highway. The project has the potential to transform Pakistan’s economy by improving connectivity and promoting trade and investment. The China-Pakistan Economic Corridor (CPEC) has achieved several significant milestones, including:
Completion of Several Infrastructure Projects:
CPEC has seen the completion of several key infrastructure projects, including the Gwadar Port, the Karakoram Highway, and several energy projects, including coal-fired and hydroelectric power plants.
Boost to Pakistan’s Economy:
CPEC has the potential to transform Pakistan’s economy by improving connectivity, promoting trade and investment, and creating job opportunities. The project has already contributed significantly to the growth of Pakistan’s construction and energy sectors.
Improvement in Energy Security:
CPEC has helped improve Pakistan’s energy security by adding significant new power generation capacity to the country’s grid, reducing power outages, and lowering electricity prices.
Strengthening of China-Pakistan Ties:
CPEC has strengthened China-Pakistan ties by promoting people-to-people exchanges, cultural cooperation, and strategic collaboration.
Regional Connectivity:
CPEC has the potential to promote regional connectivity by improving transport and trade links between China, Pakistan, and other countries in the region.
Green Development:
In recent years, there has been a growing emphasis on promoting green and sustainable development under CPEC. China has pledged to support the development of clean energy projects and environmental protection initiatives in Pakistan.
Concluding, CPEC has made significant progress over the past decade, with several infrastructure projects completed, and positive impacts on Pakistan’s economy and energy security. With continued investment and development, CPEC has the potential to bring further economic and social benefits to Pakistan and the region and POWERCHINA’s dedication to promoting sustainable development in Pakistan is expected to continue in the years ahead as CPEC moves forward.