Contract With China For 300 Megawatts Balakot Hydropower Project
The KP has signed a contract with the Chinese construction company for the construction of 300 megawatts Balakot Hydropower Project.
The Khyber Pakhtunkhwa government has signed a contract with the Chinese construction company for the construction of 300 megawatts Balakot Hydropower Project.
It is the biggest ever project of hydropower generation under the KP government and important development in the energy sector, said an official handout. The 300-megawatt power project would be completed with an estimated cost of Rs 85.00 billion in a period of six years with the financial assistance of the Asian Development Bank.
A ceremony to this effect was held here on Tuesday with Chief Minister Mahmood Khan as chief guest. Relevant officials of Pakhtunkhwa Energy Development Organization (PEDO) and Chinese construction company signed the contract to start physical work on the project.
Besides provincial cabinet members Taimur Saleem Jhagra and Himayatullah khan, the event was also attended by the Energy and Power Department officials. The chief minister termed the project of vital importance for the province and milestone achievement of the KP government.
He said the groundbreaking of the project is expected to be performed by the mid of next month, adding hopefully, Prime Minister Imran Khan would himself perform the ceremony of the mega project.
Mahmood Khan stated that the project on completion would play an important role in boosting industrial activities, job creation and overall development of the province. He added during the construction phase, the project would generate around 4,000 jobs whereas on completion, it is expected to generate a revenue of Rs 14 billion per annum.
Mahmood Khan maintained that power generated by Balakot Hydropower Project would be provided to local industries as well as domestic consumers at relatively cheaper rates.
The chief minister said that the KP government was taking steps to ensure optimum utilization of the hydropower potentials of the province with the aim to meet its energy requirements and strengthen its economy.
He added that various hydropower projects with a total capacity of generating 160 megawatts of power have been completed by the PEDO so far, whereas work is in progress on various other schemes which would create 216 megawatts energy.
Originally published at The News