China has agreed to the largest-ever financing deal for a single project in Pakistan, a US$6.5billion loan to construct twin nuclear power stations in the southern port city of Karachi, Financial Times reported. The Karachi facilities will add 15% to the energy-starved nation’s generation capacity. Pakistan’s prime minister Nawaz Sharif hailed the project as “a big source of electricity supply” during a media briefing on the economy at his office in Islamabad. The deal follows a series of other Chinese financing arrangements in Pakistan, including a US$600m loan from the People’s Bank of China last May.
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