Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally.
Work on the Chashma 5 project would begin immediately, Sharif said on state-run news channel PTV following the signing of the memorandum of understanding (MoU) between China National Nuclear Cooperation and Pakistan Atomic Energy Commission.
“Investment from China in this project to the tune of $4.8 billion sends a message loud and clear that Pakistan is a place where Chinese companies and investors continue to show their trust and faith,” Sharif said.
The Chashma 5 project will be built in the central province of Punjab. China’s support will help Pakistan make the transition away from reliance on fossil fuels.
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