Posts | China Makes Yet Another Big Pakistan Investment with K-Electric
China can’t seem to get enough of investing in Pakistan. After announcing a whopping $46 billion of investments during President Xi Jinping’s visit to Pakistan in April, Shanghai Electric announced this week its intention to buy a controlling stake in K-Electric, the power utility that supplies the country’s largest city, Karachi, the sprawling commercial hub on the Arabian Sea.
The purchase seems to fall in line with the proposed China-Pakistan Economic Corridor, a plan that stretches 3,000 kilometers from Kashgar in far western China to Islamabad and the port cities of Karachi and Gwadar. The port of Gwadar has been financed by China as well. At the unveiling of the massive investment, Chinese officials noted that most deals will be geared towards energy and transport.