Pak signs $2.4bn hydropower project with China

The Pakistan government has signed a tripartite agreement with China for the construction of the 1,124 megawatt Kohala Hydropower Project worth at least $2.4 billion. The signing ceremony of the agreement was held at the Prime Minister House on Thursday, witnessed by the Prime Minister Imran Khan, who will also be doing a ground breaking on Friday.

The other attendees included PoK Prime Minister Raja Farooq Haider, Chinese Ambassador Yao Jing, China-Pakistan Economic Corridor (CPEC) Authority Chairman Lt. General (Retd.) Asim Saleem Bajwa and representatives of the Chinese company.

The Kohala Hydropower Project is by far the largest power sector investment in a single Independent Power Producer (IPP).

It is being built on the Jhehlum River as part of the CPEC and has been awarded to KohalaHydropwer Company Ltd. (KHCL), a subsidiary of China’s Three Gorges Corporation (CTGC).

“It is a great step towards foreign investment” the Prime Minister said while addressing the signing ceremony.

“Pakistan has the potential to generate electricity from water and this project is the one way forward.”

Khan said that the project will provide jobs for the youth.

“The huge investment for Pakistan in Kohala Hydropower Project under CPEC is a very important development. We have to provide employment to the youth at this time, this project will give jobs to the youth,” he said. IANS