KP’s Energy and Power Department has signed a deal with the South Korean company to build a 496MW Hydel Power project. The South Korean company Korea Hydro and Nuclear Power (KHNP) will collaborate with Pakistan to build the 496 megawatts Spat Gah Hydropower project in the Kohistan district. The project will be set up through a Public-Private Partnership (PPP) mode.
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Chief Minister KP Mahmood Khan spoke at the signing ceremony of this project and said that foreign investment in this sector in KPK is a welcoming step. He said that it is important to use the available resources in the country to get out of the current financial crisis.
At the signing ceremony, the 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 were present along with other officers.
The project will be completed in the next five years and it will generate 496 megawatts of power for KPK and add almost Rs 3 billion in its exchequer per year.