KARACHI: Karachi Water and Sewerage Board Managing Director (MD) Misbahuddin Farid and General Manager of China International Water and Electric Cooperation (CWE) Yan Xinde on Thursday signed a memorandum of understanding to invest in PC-1 of the K-IV Water Supply Project for Karachi.
Addressing the participants of the ceremony, Misbahuddin Farid said that the project was initiated after approval from ECNEC and government of Sindh and the project will have a great impact on the economic and trade sectors of the country.
“Governor Sindh Dr Ishratul Ibad and Chief Minister Sindh Qaim Shah have expressed their willingness to commence the project and therefore on their direction we have signed MoU with the Chinese company.”
The KSWB MD said that they had provided details of the project to the Chinese company and the company is willing to invest Rs 30 billion in the project that would hopefully begin within four months.
He said that the project is South Asia’s largest project that would bring 650 million gallon additional water supply to Karachi and 1200 cusec additional water.
Farid said that he had directed KW&SB engineers to stay in contact with the company and provide them with all technical details necessary. “KW&SB values its relationships to ensure better strategies for completion of its development projects,” he added.
Speaking on the occasion, CWE General Manager, Yan Xinde said that the CWE has keen interest in the project and wished to work on the project. He said that the company will give its utmost to ensure cooperation for investment in the project.