China to invest $50 billion to develop Indus River Cascade

China to invest $50 billion to develop Indus River Cascade

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ISLAMABAD: In a major development that may attract $50 billion Chinese investment to Pakistan, Islamabad is expected to sign an MoU with Beijing on Saturday (today) for financing and developing the North Indus River Cascade which has the potential to generate 40,000MW hydro electricity.

The $50 billion investment comes on top of the $46 billion investment being provided by the Chinese government and Chinese banks for financing power and road infrastructure projects in Pakistan under the China-Pakistan Economic Corridor (CPEC).
With the signing of the MoU – which will be witnessed by Prime Minister Nawaz Sharif who is on an official visit to China – Beijing will emerge as the biggest financier of infrastructure projects in Pakistan.

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