Pakistan, China sign $4.8b nuclear power plant deal

Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, reports Reuters.

Work on the Chashma 5 project would begin immediately, Sharif said on PTV.

"Investment from China in this project to the tune of $4.8 billion sends a message loud and clear that Pakistan is a place where Chinese companies and investors continue to show their trust and faith," Sharif said.

The Chashma 5 project will be built in the central province of Punjab. China's support will help Pakistan make the transition away from reliance on fossil fuels.