Under the terms of the joint development agreement (JDA), the $1bn power plant will be built at Port Qasim, Pakistan. China Datang Overseas Investment Company (CDTO) is also part of this agreement.
The project is being developed as part of KE’s effort to diversify its energy fuel-mix toward cheaper sources of energy.
KE CEO Tayyab Tareen said: "This initiative is in line with KE’s vision of Karachi being a net exporter of power in the years ahead.
"This project will also contribute to KE’s fuel diversification strategy and marks a significant step towards a new era of cheap base load power in Pakistan."
In addition to creating employment opportunities, the project will help to overcome the ever rising electricity demand of the port city of Pakistan.
CDTO president Duan Zhongmin said: "We are fully committed to cooperate with KE and CMEC to successfully execute this Port Qasim project which shall go a long way to meet the energy needs of the people of Pakistan."
