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Pakistan, Nepal and Myanmar cancel Chinese projects - Report

Infra News - Published on Thu, 07 Dec 2017

Image Source: reported that over the past few weeks, Pakistan, Nepal and Myanmar have cancelled three major projects planned by Chinese companies. The three projects, worth nearly USD 20 billion, all involved or were related to hydroelectricity -- the production of electricity by water power. The cancellations come as a blow to China’s trade-linking project, the “One Belt, One Road” initiative.

Pakistan noted difficult financing terms by China as its reason for canceling the USD 14 billion Diamer-Bhasha Dam project.

Nepal’s deputy prime minister blamed financial issues with a Chinese company for his country’s decision to cancel a USD 2.5 billion contract for a hydroelectricity project.

And Myanmar announced last month that it is no longer interested in big hydroelectric power projects. The announcement came three years after Myanmar stopped a USD 3.6 billion Chinese-supported dam project.

The decisions by China’s neighbors could mean a serious loss of prestige for the One Belt, One Road initiative. The effort involves plans to build power stations, roads and other infrastructure around the world.

Source :

Posted By : Nanda Koijam on Thu, 07 Dec 2017
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