Far East Supports the First Hydropower Project along China–Pakistan Economic Corridor
Since the "Belt and Road" Initiative was proposed, top-level designs and implementations have been in full swing, making a significant impact worldwide.
Karot Hydropower Plant constructed by China Three Gorges Corporation (hereinafter referred to as "CTG”) is of strategic importance. It is the first large-scale hydropower construction project of the "Belt and Road" Initiative, the first hydropower investment project launched along China-Pakistan Economic Corridor, the first project funded by Silk Road Fund, and the largest green space hydropower project undertaken by Chinese enterprise abroad so far.
Far East Smarter Energy Co., Ltd. (hereinafter referred to as “Smarter Energy”, stock code: 600869) is committed to becoming a world leading supplier of smart energy and smart city services. Recently its wholly-owned subsidiary Far East Cable Co., Ltd. (hereinafter referred to as “Far East Cable”) has signed a supply contract with Yangtze Three Gorges Technology & Economy Development Co., Ltd. owned by CTG to provide high-quality technical services and solutions for Karot Hydropower Plant project, promoting the development of the “Belt and Road” Initiative.
Keeping the same pace with the country, Far East shoulders its responsibilities
Karot Hydropower Plant located in Jhelum River, Pakistan is the fourth station among the five cascaded hydropower stations planned in the Jhelum River area. The site is in the upstream of Karot Bridge in Punjab Province, Pakistan and 74km away from Mangla Dam, with a straight-line distance of about 55km from Islamabad.
Once completed, the plant will provide Pakistan with over 3.1 billion kWh of clean energy every year, effectively mitigating the power shortage in Pakistan. During the construction, over 2,300 jobs can be created directly or indirectly every year to greatly relieve the local employment pressure, helping improve people"s living standards, strengthen infrastructure construction and stimulate local economy. The project has been included in the energy cooperation priorities of China-Pakistan Economic Corridor and key projects in the “Belt and Road” Initiative, and is the first hydropower investment project written into the joint declaration between China and Pakistan.
Jiang Xipei, Founder, Chairman of the Board and Secretary of Party Committee of Far East Holding Group has stressed in various occasions that entrepreneurs should keep the same pace with the country and undertake their responsibilities, so as to provide quality products and service for society, and fulfill the national strategic goal of high-quality and sustainable development. Guided by such corporate culture, Far East actively responds to the call of the “Belt and Road” Initiative and benefits people with its advanced technology and products of clean energy.
Working with CTG to build a global reputation
CTG is a large state-owned backbone enterprise and a leading company specialized in the development, construction and operation of clean energy especially hydropower with a good reputation at home and abroad. It adheres to the development concept of “building a power station to develop local economy, improve local environment and benefit local people”, takes into account economic, social and ecological benefits and creates jobs for local people, promoting the coordinated development and industrial upgrading in the power supporting sector.
As their first overseas cooperation project, Karot Hydropower Plant is expected to continue enhancing the partnership between Far East and CTG. To respond to the “Belt and Road” Initiative, advance the cooperation with CTG and meet construction deadlines, Far East has shipped the first batch of goods to the project site at the fastest speed.
In recent years, Smarter Energy has supported the construction of Three Gorges Power Transmission Project, Shanghai World Expo Project, Shanghai World Financial Center, China Wenchang Spacecraft Launch Site, Jiuquan Satellite Launch Center, “Tiangong-2” and “Shenzhou XI” aviation projects, and Changji - Guquan ±1100kV UHVDC transmission project, laying a solid foundation for its internationalization. And Karot Hydropower Plant as one of Far East’s important steps of “going global”, has made an indelible mark on its achievements.
Guided by the “Belt and Road” Initiative, Far East will continue to improve itself to develop global market, improve products and services to an international level, and enhance its overseas popularity and reputation, helping Chinese brands rise on the international stage and build a reputation.