KP signs agreement with Korean company to build 496MW hydel power project

Peshawar – The Energy and Power Department of Khyber Pakhtunkhwa has signed an agreement with a South Korean company, Korea Hydro and Nuclear Power (KHNP), to build a 496 megawatts Spat Gah Hydropower Project.

The proposed power project will be constructed in Kohistan district. The power project would be set up on the Public-Private Partnership (PPP) mode.

While speaking at the contract signing ceremony, Chief Minister KP Mahmood Khan stated that the foreign investment in the energy sector of KP was a welcome step. He underlined the need to utilize the available resource efficiently for bringing the country out of the present crisis.

Provincial Minister for Finance Taimur Salim Jhagra, Advisor to the chief minister on Energy Himayatullah Khan, South Korean Ambassador Kwak Khu Sung, Chief Executive Pakhtunkhwa Energy Development Organization (PEDO), Engineer Zainullah Shah, and other officers were also present at the occasion.

Notably, the Memorandum of Understanding (MoU) for initiating the project was signed earlier between the Secretary Energy and Power Muhammad Salim Khan and the Chief Executive of the Korean company KHNP.

The project is estimated to be completed in the next five years. Moreover, it is a mega hydropower project that will generate 496 megawatts of power for the northern province and contribute Rs.3 billion in its exchequer annually.

"Monitoring Desk"

Leave a Reply

RELATED POSTS

34
ADB to finance infrastructure revamp worth $300m in four Punjab cities
Beijing, Islamabad to improve infrastructure in Pakistan: Chinese daily
NEPRA seeks report on Karachi power breakdown
Pakistan plans to scrap upfront tariff regime for captive power plants
New FTA with China expected by June next year
Chinese investors keen on joint ventures
Chinese enterprises undertake over 3,000 BR projects in regional countries
Chinese media lauds PM Imran’s vision of poverty alleviation
China investing $9b in various projects in Pakistan: Zaidi
Study shows GDP increase attributed to CPEC Projects
CPEC projects to be expedited in KP
China and Pakistan want Afghanistan to join CPEC project
CPEC crucial for enhancing Pak-China bilateral ties: Chinese envoy
CPEC will usher socio economic development of both countries: Saleem Jhagra
CPEC provides vitality for regional growth, diplomats say

FOLLOW US


About Corridor.pk

Corridor.pk is Pakistan’s leading regional connectivity media & communication/outreach platform, dedicated to profiling and promoting the business activities, news and views on the regionally connected business corridor across OBOR. 

     

Addional Information

 Ethics Policy     Advertise
 Terms & Conditions
 Contact Us