Active Mixed AidData Chinese Aid

Chinese government pledges sellers credit for Chashma Nuclear Power Project Unit 5 in Pakistan

¥820.7K RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Pakistan Atomic Energy Commission
Country	Pakistan
Start Date	Jun 20, 2023
End Date	Sep 05, 2029
Duration	2,269 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108917`

Grant Description

Chinese government pledges sellers credit for Chashma Nuclear Power Project Unit 5 in Pakistan In November 2017, China National Nuclear Corporation (CNNC) and the Pakistan Atomic Energy Commission (PAEC) signed a cooperation agreement to build the fifth unit in the Chashma site at Mianwali in Punjab (C-5).

Then, on June 20, 2023, an MoU was signed between CNNC and PAEC to begin construction on unit C-5. A groundbreaking ceremony was held on July 14, 2023.

Pakistan's Executive Committee of the National Economic Council provided formal approval for the project on July 27, 2023.

In addition to approving the project itself, the ECNEC also approved the use of a sellers' credit from an unspecified Chinese financier of PKR 820,742,990,000 (just under $3 billion) for the project.

On August 8, 2023, Pakistan's Economic Coordination Committee approved the issuance of a 'gradual sovereign Guarantee' for the project.

On August 16, 2023, the Executive Committee of the National Economic Council (ECNEC) also approved the project and financing scheme.

However, there is no evidence yet of a sellers' credit, or other loan agreement, being signed with a Chinese creditor for the project. The total cost of the project is expected to be PKR 1,047,988,840,000.

The Pakistan Nuclear Regulatory Authority (PNRA) provided PAEC with a license in December 2023, allowing for construction to formally begin. C-5 will be a Hualong One reactor with a capacity of 1,200 MW. China Zhongyuan Engineering Corporation (CZEC) was expected to help with project implementation.

The estimated construction time is 81 months.

The purpose of this project is to further aid Pakistan's nuclear energy strategy of reducing reliance on fossil fuels and preventing energy shortages.

Data collected during pre-project site studies were to be used to create an Environment lmpact Assessment Report (EIAR), in order to ensure compliance with National Environmental Quality Standards (NEQS).

📋 Staff Comments

The Chinese name of the project is 巴基斯坦恰希玛核电站5号机组 or C-5 项目.
The project title is also written Chasma Nuclear Power Project in English.
China Eximbank has provided loans for the construction of Units 3 and 4 of the Chasma Nuclear Plant. See Record ID#s36237, #70728, and #70730

📚 Sources & References

驻巴基斯坦大使姜再冬出席核电站核岛动工仪式
C-5 project: PAEC’s point of view
Pakistan-China collaboration on Chashma 5: the way to sustainable development
Ground-breaking ceremony held for Pakistan's Chashma 5
驻巴基斯坦使馆临时代办庞春雪出席恰希玛5号核电机组项目主合同补充协议签署仪式
姜再冬大使出席核电站核岛动工仪式
驻巴基斯坦使馆庞春雪临时代办出席恰希玛核电站5号机组开工仪式
驻巴基斯坦使馆临时代办庞春雪出席恰希玛5号核电机组项目主合同补充协议签署仪式
Pakistan formalises Chashma 5 approval
PM lays foundation of N-power plant
PM performs groundbreaking of 1200MWs Chashma-5 nuclear power plant in Mianwali
Pakistan launches $3.5 billion Chinese-designed nuclear energy project
Pakistan and China on Tuesday signed a memorandum of understanding (MoU) to build a new unit of the 1,200 MW Chashma-5 (C-5) nuclear power project.
Agreement reached for Chashma unit 5
Pakistan signs MoU with China for nuclear power project worth $3.4 billion, 'Pakistan will not bear Sinosure cost of C-5': minister
PM witnesses MoU on $3.48b C-5 nuclear power project
Ecnec okays Rs1.2 trillion development projects
Pakistan
China sign accord to build $3.48b nuclear power plant at Chashma
PM witnesses MoU on $3.48 bn C-5 nuclear power project, 1,200MW electricity: construction begins of Chashma Nuclear Power Project Unit-5, $5bn Chashma-5 N-plant to produce power at Rs20 per unit: Country has swallowed a bitter pill?
Pakistan Breaks Ground on $3.7B Chashma-5 Nuclear Project With China’s Aid
Agreement reached for Chashma unit 5
Rs1.12tr Chashma nuclear power plant to be completed in 81 months
Nuclear Power in Pakistan
Pakistan begins construction of Chashma 5
PR No. 147 Islamabad: July 27, 2023
SCHEMES APPROVED BY CENTRAL DEVELOPMENT WORKING PARTY (CDWP) AND EXECUTIVE COMMITTEE OF THE NATIONAL ECONOMIC COUNCIL (ECNEC) (1st April 2019 to 31st March 2020)
PR No.72 Islamabad: August 08, 2023
SCHEMES APPROVED By Central Development Working Party (CDWP) and Executive Committee of the National Economic Council (ECNEC) (1st April 2023 to 15th May 2024)
Vice President CNNC calls on Minister for Finance in Islamabad
Monthly Report Foreign Economic Assistance Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.

All Grantees

Pakistan Atomic Energy Commission

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