Islamabad: Pakistan and China signed agreements today for mining and power plant project in Thar worth $820 million. The financing agreements were signed by Sindh Engro Coal Mining Company (SECMC) and Engro Powergen Thar Limited (EPTL) in Beijing, China. Chinese President Xi Jinping visited Pakistan earlier this year and signed term sheets with Pakistan for loan financing this project. Negotiations for this loan are ongoing and local banks organization will provide Rs 22 billion for the associated power plant established by Engro Powergen Thar Limited, and Rs 52 billion for the mining project established by SECMC.
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