The Kingho Group being the largest private group of China has expressed its keen interest to Invest in Thar Coal project.
A seven-member delegation of M/s. China Kingho Group, headed by Executive Vice President Ma Xiaomin, visited Board of Investment (BOI) to explore investment opportunities in Pakistan in coal sector and development of coal fields of Thar, Badin, says a statement issued here.
Minister of State and BOI Chairman Saleem H.Mandviwalla stressed that in order to sustain economic growth, Pakistan needed to develop its indigenous energy resources rapidly.
Proposed investment in development of Thar coal mines would provide benefits like strategic energy resource, import substitution of expensive raw furnace oil (RFO), lower power tariff for coal-fired power plants, and improve socio economic development in Thar region.
It will also lead to skilled job creation and transfer of technology, he remarked.
Director Mineral and Natural Sources, Azhar Khan told that Thar coal field in Sindh is spread over more than 9000 sq km and is bestowed with 175 billion tons of lignite coal, which can fuel power generation of over 100,000 MW for more than two centuries.
EDG Board of Investment Humayun Khan Sikandari informed that Thar coal field has been declared SEZ, and the investor will enjoy Corporate Income Tax Holiday of 5 years and 10 years for Developers of the Zone.
The head of delegation Kingho Group of China, told the BOI officials that through years of effort, has achieved a diversified but integrated development pattern which is composed of coal mining, washing and sorting, production, transportation and sales of coal, together with iron ore mining, chemical, metallurgy, salt chemicals, building materials, logistics, and hotel and tourism businesses.
China Kingho Group being the largest private group has manpower of 64,000 and possesses 22 billion tonnes of reservoirs of coal and 800 million tonnes of iron ore, he said.