South Korean company resumes work on 102MW Gulpur Hydro power project in AJK

Islamabad – South Korean company on Thursday resumed construction work on 102MW Gulpur Hydropower project as AJ&K government assures the security of foreign work force.

The Chief Operating Officer (COO) of the South Korean company, Daelim Industrial Co., Ltd, Sultan Ahmed informed, “AJ&K government assures company management to provide enough security to the staffer and the project costing Rs. 14 Billion”, He said.

He further maintained that the AJ&K government increased the surveillance of Intelligence officials and law enforcement agencies to tackle any uncertainty at the project site.

The Engineering, Procurement & Construction Contractor for 102MW Gulpur Hydropower Project had stopped the construction activities and evacuated the project site due to recent security threats of Indian Border Action Team.

Daelim Industrial Co., Ltd of South Korea leading the joint venture for the construction had left the project site on August 3 by evacuating all the foreigners and local employees for their safety and security.

The 102MW Gulpur Hydropower Project is located in district Kotli of Azad Jammu & Kashmir and so far forty percent of the project progress has been achieved. The project is being implemented by Mira Power Limited a subsidiary of KOEN, Daelim and Lotte.

An unconventional threat where Indian Border Action Team (BAT) was planning to target Gulpur Hydropower Project by implanting IEDs has never been received before nor had any development project been the target on such parameters.

The concerns escalated when Indian print and electronic media targeted Daelim on propaganda that Daelim has backed out from the ongoing projects as IFC, ADB and KEXIM bank expressed their inability to finance the project in disputed areas of Jammu & Kashmir.

The COO of the company was of the view that Korean investors felt discrimination as the projects under CPEC are being looked after by special security force/division of armed forces formulated under CPEC Agreement between Pakistan and China whereas Koreans are left at the mercy of untrained policemen who do not hold such skills to counter terrorism.

The dilemma is Korean investors are also forced to pay the salaries and perks to such deployed policemen whereas in the case of CPEC projects NEPRA has recently approved security cost for CPEC projects only which itself a discrimination towards other investors and against the Constitution of Pakistan.

Daelim along with other South Korean companies are determined to harvest the hydropower potential in Azad Jammu & Kashmir for which due diligence study of 500MW Chakothi Hattian Hydropower Project located in district Hattian has been completed and issuance of LOS is under process. The estimated project cost would be 1.3 billion dollars and the project is expected to complete in 6 year time.

Daelim along with Korea Hydro & Nuclear Power Company and Lotte Engineering and Construction Company has been awarded LOI for 350MW Authmuqam Hydropower Project located in district Authmuqam of Azad Jammu & Kashmir. The feasibility study is under its way and the consortium is determined to implement the project on fast track. The estimated project cost would be 875 million dollars and the project is expected to complete in 5 year time.

By Zeeshan Javaid


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