China lends Pakistan $6.5 billion to build nuke plants

January 02, 2014 21:49

China has agreed to grant cash-strapped Pakistan $6.5 billion for two nuclear power plants which will be constructed in Karachi as part of efforts to deepen bilateral civil nuclear cooperation.

Prime Minister Nawaz Sharif, during a special cabinet meeting, said China was providing a concessionary loan for K2 and K3 nuclear power plants which have a combined generation capacity of 2,117 megawatts.

The repayment period of the soft loan will be 10 to 20 years.

Talks with China for more loans for power projects are also underway.

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