Pakistan and China Sign Two Agreements, Two MoUs

Thursday, October 15, 2009 at 3:13 pm

BEIJING: Pakistan and China Sign Two Agreements, Two MoUs, Pakistan and China on Thursday signed two agreements and memoranda of understanding (MOU) in soft loan space, space technology and alternative energy.

Prime Minister Syed Yousuf Raza Gilani, witnessed the signing ceremony of the respective officers of the companies signed the documents.

The loan on favorable terms for PAKSAT was signed between Pakistan’s economic policy and the Division of Export Import Bank of China.

Under the agreement, China will provide an amount of U.S. $ 190 million to supply PAKSAT-1R, which will replace the PAKSAT-1 that has a useful life until 2011. The loan will cover 85 percent of project costs.

Another agreement was signed between Pakistan and Space Research Commission of the Upper Atmosphere (SUPARCO) and China Great Wall Industry Corporation of Pakistan-1R Satellite Ground Control Segment.

The ground control segment will include the establishment of stations in Lahore and Karachi. The stations are used for controlling the satellite and the control of its operation for the duration of his 15 years.

Pakistan Alternative Energy Board, signed memoranda of understanding with China’s Wuxi Suntech Power Company and China Electric Equipment Group Solar Energy Research Institute Co. Ltd (CEEG SI), respectively, for cooperation in the field of alternative energy projects in Pakistan.

Both CEEG SUNTECH and SI are the major Chinese companies in the field of alternative energy and participated in several projects both in China and abroad. The two companies are interested in implementing alternative energy projects in Pakistan to help overcome the power crisis in the country.

Pakistan and China Sign Two Agreements, Two MoUs

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