economic news & development in Pakistan

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Pakistan’s first nuclear plant, Karachi nuclear power plant (Kanupp), is undergoing a 2,200MW capacity extension, with two 1,100MW pressurised water reactor (PWR) units of Chinese design under construction at the site.
The $10bn project is being built with financial assistance from China, the biggest energy and infrastructure investor in Pakistan.
Karachi nuclear power plant is located on the Arabian Sea coast, approximately 18km east of Karachi and has been in service with a single 137MW reactor unit (Kanupp-1) since 1972. It is owned and operated by Pakistan Atomic Energy Commission (PAEC).
Construction of the Kanupp-2 and Kanupp-3 reactor units started in August 2015 and May 2016, with the start of commercial operations scheduled for 2021 and 2022, respectively.
Reactor units will have a design life of 60 years and account for roughly 10% of the country’s total generation capacity.
Karachi nuclear power plant’s new units and reactor design details

Kanupp-2 and Kanupp-3 will each consist of a nuclear island, conventional island, and balance of plant.
Each nuclear island will house a Hualong One or HPR1000 (formerly ACP-1000) reactor from China.
The HPR1000 is a generation III+ three-loop PWR based on the design improvements over the China General Nuclear Power Group (CGN)’s ACPR-1000 and China National Nuclear Corporation (CNNC)’s ACP-1000 reactor models.
In 2014, the Chinese Government asked the two state-owned reactor builders to merge their two third-generation reactor designs and to market as a unified Chinese brand abroad.
The Hualong One advanced reactor design comes with a single stack layout, 177 nuclear fuel assemblies, a double containment structure, and a combination of active and passive safety systems.
Each new reactor unit at Kanupp will have 1,100MWe gross electrical output and 3,060MWt gross thermal output.
The reactors are designed to provide emergency cooling for 72 hours in the absence of electricity supply.
The International Atomic Energy Agency (IAEA) completed the Generic Reactor Safety Review (GRSR) of the HPR1000 reactor in January 2015.
The Fangchenggang nuclear power plant (NPP) in the Guangxi province, China, and the Fuqing NPP in the Fujian Province, China, are also being built with two HPR1000 units each.
Financing for Karachi nuclear power plant expansion

More than 80% of the estimated project cost is being financed through a loan from China’s state-owned Export-Import (Exim) Bank.
The remaining cost is being funded by the Public Sector Development Programme (PSDP) of the Pakistan Government.
Electricity transmission

The electricity transmission infrastructure works for the Karachi nuclear power plant expansion include the development of 220kV and 550kV transmission lines connecting to the national grid.
The National Transmission and Despatch Company (NTDC) of Pakistan will be responsible for the construction, operation and maintenance of the electricity transmission infrastructure for the project.
Contractors involved

China National Nuclear Corporation (CNNC) is involved as the general contractor and reactor supplier for the project through its overseas nuclear project platform China Zhongyuan Engineering Corporation (CZEC).
The reactors are jointly developed by CNNC and China General Nuclear Power Corporation (CGN) using the ACP-1000 technology.
China Nuclear Engineering and Construction Group (CNECC) is engaged as the construction contractor.
Karachi nuclear power plant unit one details

Karachi nuclear power plant unit one comprises a 137MW single unit Canada Deuterium Uranium (CANDU) pressurised heavy-water reactor supplied by Canadian General Electric Company.
Fuelled by 30t of natural uranium, the reactor has a thermal output of 432.8 MWt and gross electrical output of 137MWe.
Commissioned in 1972, Kanupp-1 outlived its 30-year design life in 2002. PAEC has been operating it at a reduced capacity with repairs and replacement.
Kanupp-1 is expected to be permanently shut down as soon as the new reactor units commence operation.
KNPP.jpg
 

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A direct flight will be launched between Azerbaijan and Pakistan and the corresponding work has already begun, Azerbaijani ambassador to Pakistan Ali Alizade, who took part in the "Diplomatic Enclave" program of the Channel 5 Pakistan, said.
The ambassador said that Azerbaijan is interested in expansion of cooperation in trade and economy, Trend reports with reference to the Azerbaijani embassy in Pakistan.
“Many joint projects are being implemented by the countries,” he said. “Exhibitions are held.”
“There are about 300 Pakistani companies and businessmen in Azerbaijan,” Alizade added. “The number of Pakistani tourists visiting Azerbaijan has increased.”
The ambassador also spoke about the favorable conditions created in Azerbaijan for foreign investors in agricultural, industrial and technological parks.
Alizade also spoke about the economic zones, international transport corridors passing through Azerbaijan and the possibility of Pakistan’s joining them.
The diplomat touched upon the issue of expanding opportunities for mutual investments and also stressed that the strategic partnership between Azerbaijan and Pakistan contributes to cooperation in the economic, trade, military-technical, energy, tourism and other areas.
“Military cooperation between the two countries is also a priority,” Alizade stressed. “Both countries suffer from terrorism and extremism, and always support each other.”
“Armenia occupied Azerbaijan’s lands and carried out ethnic cleansing,” he said. “Armenia is destroying religious and cultural monuments and does not recognize resolutions adopted by international organizations.”
The ambassador added that Azerbaijan is always close to fraternal Pakistan
 

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Under the socio economic development framework, a joint cotton research laboratory would be established in Multan at a cost of Rs 186 million to help enlightening the productivity of the agriculture sector by growing cotton cultivation area and production.
Cotton laboratory center initiative will not only help in the development of climate resilient cotton varieties but will also aid farmer’s community by lessening the need to invest in insecticides and pesticides and also make sure the reliability and productivity of agricultural cotton sector.
As the cotton crop is integral to the economic development of the country the cotton research laboratory ought to be prolific. Considering the concerns of cotton in Pakistan and the farmer’s community livelihood this productive project can lessen the rural Punjab poverty.
The Punjab planning department stated that, Under CPEC project China had agreed to provide Pakistan a grant of $1 billion for initiating joint cotton research center in Multan and many various projects across the country especially in underdeveloped areas.

The Pak-China joint venture will ultimately perk up, strengthen and assist the research activities regarding the significant crops of Pakistan.
 

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construction on the Bahria town icon in Karachi. It will be Pakistan's largest tower, completion by 2020
-elegant retail mall
-fine dining restaurants
-cinemas
Bahria.jpg
 

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A state-of-the-art oil refinery and petrochemical complex, being established at Gwadar deep seaport city, has tremendous potential to capture markets in China and Central Asian landlocked states where fuel supply takes weeks to reach through other routes.
Under the China Pakistan Economic Corridor (CPEC), the fuel transportation to China via Pakistan would take just seven days as import through western China takes almost 40 days, an official source privy to the Petroleum sector developments told.
He said the mega oil facility was being constructed with around US $11 billion Saudi investment at the Gwadar deep seaport, an ultimate destination of the CPEC, would also help refine and store imported oil for onward transportation to China and develop fuel supply chain for the landlocked Central Asian states.
Besides, the official said the facility, having capacity to refine 200,000 to 300,000 barrels per day (bpd) oil, would help bring down the country’s oil import bill by US $ 1.2 billion annually.
Pakistan’s average annual oil consumption is around 26 million tons (MT), out of which 13.5 MT was met through local production of eight existing oil refineries. “While, 50 percent crude oil is imported to meet the energy needs.”
Answering a question, he said soon after singing the Memorandum of Understanding (MoU) for the refinery and petrochemical complex, Pakistan and Saudi Arabia agreed to establish a Joint Working Group (JWG) to ensure timely and smooth execution of the multi billion dollars project.
The official said the JWG would hold regular interaction to exchange information needed for carrying out feasibility studies of the project on a fast track.
Saudi Arabia, he said, was keen to set up the facilities at the earliest, which was reflected by four visits of Saudi technical teams and Energy Minister to Pakistan to inspect the project site and discuss other modalities, prior to signing of the MoU.
Replying to another question, the official said the government was making all-out efforts to upgrade existing oil refineries and establish new deep conversion facilities to achieve self-sufficiency in this sector.
For the purpose, he said, the government had recently banned import of furnace oil and announced unprecedented incentives package for setting up new deep conversion oil facilities, advising the existing oil refineries to enter into commercial agreements with power producers for utilization of their capacity for furnace oil storage and modernization of their facilities.
The official said an unprecedented incentives package was in place for setting up new deep conservation oil refineries, under which interested parties were exempted from all duties, taxes, surcharges and levies on import besides a 20-year income tax holiday.
“The exemption will be applicable on all machinery, vehicles, plants and equipment, other materials and consumables for setting up, operation, maintenance and repair of a refinery,” he said.
The package, the official said, would also be applicable on existing facilities where refining capacity was expanded by installing deep conversion units with capacity of at least 100,000 barrels per day (bpd) oil.
 

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Gwadar Port Free Zone will be modeled after the Shekou Industrial Zone in Shenzhen, China, comprising a port, an industrial park, and residential and business areas.
Once completed, the free zone will spur economic growth in Balochistan province and the rest of Pakistan, according to a report of in China's national online news service (China.org.cn).
So far, more than 30 Chinese and Pakistan enterprises have moved in, with three billion yuan of direct investment, in the Gwadar Port free zone.
These include hotel, bank, insurance, financial leasing, logistics, overseas warehousing, grain and oil processing, aquatic product processing, and home appliances assembly. Their yearly output value will exceed five billion yuan once they all come into operation.
According to the project plan, the free zone will occupy an area of 923 hectares and be developed in four phases. The first phase opened for operation in January 2018.
The China Overseas Ports Holding Ltd. has invested nearly US $ 250 million and built a 25-acre modern industrial park complete with roads, water pipes, electricity, communications, security fence and waste disposal facilities.
During Chinese Premier Li Keqiang's visit to Pakistan in May 2013, China and Pakistan agreed to build the China-Pakistan Economic Corridor to promote energy and transportation infrastructure development, among other projects.
During President Xi Jinping's visit in April 2015, closer bilateral cooperation was again highlighted.
A key element of the China-Pakistan Economic Corridor (CPEC) and an essential component of the Gwadar Port development project, the free zone aims to improve trade logistics, facilitate processing trade, and promote warehousing and financial services.
 

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