Chinese Government pledges loan for Balancing, Modernisation, Revamping, and Expansion (BMRE) of Heavy Mechanical Complex in Taxila
Pledged amount
$ 241178523.47183493
Adjusted pledged amount
$ 241178523.47183493
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Pakistan
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In July 2010, Pakistan's Industries and Production Ministry sought the approval of the Pakistan Prime Minister for a Chinese Government concessional loan to support the for Balancing, Modernisation, Revamping, and Expansion (BMRE) of the state-owned Heavy Mechanical Complex in Taxila. The project cost a total of RS 23.428 billion, with a foreign component of $173.17 million USD. The project would have involved manufacturing turbines and power plant equipment indigenously, making the country more self-sufficient in energy needs. Whether the Chinese Government supported the foreign financing component is unclear.
Additional details
China first helped Pakistan to develop a heavy mechanical complex in Taxila in 1968.
Number of official sources
1
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Pakistan [Government Agency]
Implementing agencies [Type]
Government of Pakistan [Government Agency]