China’s Overseas Investment Insurance – Sinosure
For the majority of projects along the Belt and Road Initiative (BRI) four layers of actors can be identified: Lender, Credit Insurance, Construction Company, and Project Developer. The lenders are often familiar names such as China Development Bank (CDB), Industrial and Commercial Bank of China (ICBC) or the Export-Import Bank of China. The provider of Credit Insurance – Sinosure – however is a rather unknown name despite its wide appreance among the BRI projects. Nevertheless, Sinosure is a significant player in the making of projects along the BRI since it provides a safety net critical to Chinese investors. Therefore, we want take a closer look at the Credit Insurarer Sinosure and its engagement within the BRI. Continue reading Sinosure
The Matiari-Lahore Transmission Line Project is a 660-kilovolt high-voltage direct-current (HVDC) line that is currently under construction within the framework of the Early Harvest projects of the China-Pakistan Economic Corridor (CPEC). The project is aligned with the coal-fired power projects in the province of Sindh, transferring 4000MW electricity from Thar and Port Qasim to central Pakistan. It is crucial for the evacuation of electricity from this region and the general improvement of Pakistan’s grid structure. It will be the first HVDC transmission line in Pakistan and will consist of 878km. Furthermore, will the project be the first power transmission line in Pakistan financed through the foreign investment as well as through the private sector.
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The Kohala Hydro Project is located an the Jhelum River near Muzaffarabad District. The dam site is proposed just upstream of Domel, 174km from Islamabad and will have an installed capacity of 1,100MW. The average annual energy generation of the main power station will be 5.079 billion kWh. The project is part of the China-Pakistan Economic Corridor (CPEC) under the Belt and Road Initiative.
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The first wind farm in Pakistan constructed by China Three Gorges Corporation, Three Gorges First Wind Power Project, which was at the same time the first wind farm to be constructed by a Chinese company, started commercial operation in 2014. Shortly after operation of the Three Gorges First Wind Power Project, a second and third wind farm was decided. Despite, these two wind farms being understood as two separate projects – the Three Gorges Second Wind Power Project and the Three Gorges Third Wind Power Project – they can also be seen as two phases of the Three Gorges Wind Power Project.
The first phase of the project, namely the Three Gorges First Wind Power Project, precedes the Belt and Road Initiative (BRI) and was established on a Build-Own-Operate model with a cost of 130.28 million USD. The second and third phase, the Three Gorges Second and Third Wind Power Project, are affiliated with the early harvest program of the China-Pakistan Economic Corridor.
The two projects, Three Gorges Second Wind Farm and Three Gorges Third Wind Farm, have a designed capacity of 49.5 MW and 33 wind turbines each. For each of the three projects a company was established, the Three Gorges First Wind Farm Pakistan (Pvt.) Ltd., the Three Gorges Second Wind Farm Pakistan Ltd., and the Three Gorges Third Wind Farm Pakistan (Pvt.) Ltd., who are all arms of the Three Gorges Corporation, one of the world’s largest energy companies.
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The Sahiwal Coal Power Project is a coal power plant with an installed capacity of 1320 MW. It consists of two 660 MW plants for a combined capacity of 1,320 MW and is Pakistan’s first supercritical coal power plant. The project preceded the announcement of the China-Pakistan Economic Corridor (CPEC), since the symbolic ground breaking for the project took already place in May 2014 but is now considered to be part of the Belt and Road Initiative and one of the early harvest projects of CPEC. It was the first CPEC project to be completed.
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The Suki Kinari Hydropower Project will be a run-of-the-river hydropower plant located on the Kunhar river in the Kaghan valley with an installed capacity of 870 MW and an annual generation of 2,958 GWh. Already in 1960, this project was proposed and underlined through a feasibility study but could only be finalized in 2016.
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