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China to Invest $400 million in a Power Project in Afghanistan
A number of Chinese investors in a meeting with President Mohammad Ashraf Ghani pledged to invest $400 million in a coal-powered power plant in Afghanistan, according to a statement from the Afghan Presidential Palace.
The statement said Chinese investors were interested in setting up a power plant that would generate 300 megawatts of electricity using coal fuel in Afghanistan.
The plant will increase the country’s power generation capacity by almost 50 percent.
Mohammad Ashraf Ghani directed the Afghanistan Investment Facilitation Unit to work together with Afghanistan Breshna Sherkat (DABS) to facilitate investment in the sector and share the results with the Office of the President.
Afghanistan currently generates about 600 megawatts of electricity from renewable and non-renewable energy and imports more than 670 megawatts of electricity from neighboring countries.
According to DABS, only about 35 percent of Afghanistan’s population has access to electricity.
This will be second big Chinese project in the country. China had previously invested in Mes Aynak, a major copper mine in Logar province.
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