Signing Ceremony of the Loan Agreement between China Development Bank and UEP for JHIMPIR Wind Power Project in Sindh Province

Under the joint witness of China and Pakistani leaders, Tariq (second from right), President of UEP, and Hu Huaibang (second from right), President of China Development Bank, signed on the agreement.

While the spring breeze blows over the “silk road”, flowers blossom on the “corridor”. April, which means “blossoming” in English, is a season of warm spring breeze and beautiful flowers for the Pakistan and Orient Group.

Chinese President Xi Jinping, during his state visit to Pakistan from April 20th to 21st raised the China-Pakistan relationship to an all-weather strategic cooperative partnership. President Xi also witnessed the signing of over 50 cooperative projects and cooperative agreements that are worth some 46 billion US dollars, making them first major deals under the Belt and Road Initiative and China-Pakistan Economic Corridor. By presenting this great opportunity, the petroleum, natural gas and wind power projects undertaken by UEG have been given great importance and strong support, and major progress has been made fueled by President Xi’s visit to Pakistan.

At 4:30 p.m., April 20th, President Xi Jinping and Pakistani Prime Minister Sharif jointly presented and witnessed the signing and kick-off ceremony of a number of projects including the Loan Agreement between China Development Bank and UEP for the JHIMPIR Wind Power Project in Sindh Province. During the ceremony, UEP President Tariq engaged in cordial exchanges with Hu Huaibang, President of China Development Bank. At the same time at the live-streamed kick-off ceremony, everyone on the JHIMPIR project site was seen to be full of great joy and excitement, and trucks, excavators and cranes began to work at the same time, marking the official commencement of project construction, and predicting that this flower of new energy will blossom and will bear rich fruit.

Previously on the first day of April, a China-Pakistan Economic Corridor energy working meeting was held in Pakistan, which was joined by Deputy Director of China National Energy Administration Mr. Zhang Yuqing and his delegation, and attended by the Standing Deputy Secretary of Pakistani Hydropower Department, CEO of State Grid, Director of Sindh Provincial Energy Bureau, and Director of AEDB (Renewable Energy Bureau, as well as by a group consisting of Song Yu and Lin Yang, Deputy General Managers of UEG, Tao Zhiyuan, Wind Power Project Director and UEP President Tariq et al. At the meeting, it was decided that UEP will enter into the loan agreement with China Development Bank for its 100MW wind power Phase 1 project under the witness of the two countries’ leaders during President Xi Jinping’s visit to Pakistan, and will also hold a live-streamed kick-off ceremony with Gezhouba Group.

The Standing Deputy Secretary of Pakistani Petroleum Department, Chairman of the Board of ODGG, and Chairman of the board of the national oil pipeline company attended the China-Pakistan Economic Corridor oil and natural gas seminar held in parallel with the working meeting.

Ever since the acquisition of all oil and gas assets from BP in Pakistan four years ago, United Energy has taken a deep root in Pakistan and grown its businesses from oil/gas fields to the wind power field. While making huge business profits from high speed growth, the Company is also taking care of its social corporate responsibilities, by actively engaging in local social programs for public welfare, UEP has won the trust, respect and support from the local government and the people. Through its efforts and diligence in Pakistan, United Energy has made and is continuing to make contributions to the energy development of Pakistan, and is doing its part in support of China’s Belt and Road Initiative and China-Pakistan Economic Corridor strategy. Being an important link of China-Pakistan friendship and economic cooperation, United Energy is regarded by the Chinese official media authorities including Xinhua News Agency and CCTV as one of the shining pearls and practitioners on the Belt and Silk Road.