China is going to be investing $1.5 billion in HVDC (High Voltage, Direct Current) for a 4,000MW power transmission line between Matiari and Lahore.

The agreement for this matter was signed between Secretary Water and Power, Mohammad Younus Dagha and Chairman State Grid of China in Beijing at the State Guest House, and was witnessed by Federal Ministers and Chief Ministers of Sindh, KP and Balochistan along with the senior Chinese Officials.

The transmission line will link north-south National Grid and this transmission line is going to be Pakistan’s first ever transmission line supporting this much power.

Work on this project is going to start in January 2017, and according to a spokesman for the Pakistani Prime Minister’s office, the project should take around 20 months to complete.

Pakistan, with the help of all the CPEC electricity projects, will most definitely be able to counter the electricity shortage problem that it has been facing for far too long now.

Read more: All You Need to Know About Electricty Projects Under CPEC (Part I)

Other Investments made by the Chinese

This project is one of latest in the series of big Chinese investments, most of which fall under a total $55 billion worth of projects under the China-Pakistan Economic Corridor (CPEC).

Meanwhile, other Chinese investments include the acquisition of majority stake by Shanghai Electric of the K-Electric power production and distribution company. The investment was worth $1.8 billion.

Moreover, the Chinese also acquired 40 percent stake of the Pakistan Stock Exchange (PSX), which was worth $85 million.

Via DunyaNews