Accord with Chinese firm over K-IV project

Attention: open in a new window. PDFPrintE-mail

KARACHI : The Karachi Water and Sewerage Board (KWSB) and the China International Water and Electric Corporation (CWE) on Thursday signed a memorandum of understanding (MoU) for cooperation in the greater Karachi water supply project, commonly known as K-IV.


A KWSB statement issued here said that the signing ceremony was held at the KWSB chairman’s secretariat in the presence of secretary of the local government department Ali Mohammad Lund.


It said that general manager of the CWE Pakistan Li Zhilli and KWSB managing director Misbahuddin Farid signed the document.


It was stated that the MoU was signed after several meetings and discussion between KWSB and CWE officials.


The CWE had expressed interest in the K-IV scheme.


In this connection, a delegation led by general manager of CWE Pakistan Li Zhilli and senior engineer Yan Xinde met water board managing director Misbahuddin Farid, deputy managing director of planning Mashkoor-ul-Hasnain and chief engineer of K-IV project Saleem Ahmed Siddiqui and briefed them on CWE projects in Pakistan and their interest in water supply project.


The water board managing director said under this MoU the CWE would help the KWSB acquire a soft loan at one per cent interest from China.


However, this was subject to Chinese and Sindh governments’ approval. The CWE would commence their work in 90 days, he added. —APP

Courtesy:  Dawn

Forex open Market rates & comments Archive

Login Form