KP signs pact for 300MW Balakot hydropower project

Published March 10, 2021
The Khyber Pakhtunkhwa government on Tuesday signed an agreement with a Chinese company for the construction of the 300-megawatt Balakot hydropower project. — AFP/File
The Khyber Pakhtunkhwa government on Tuesday signed an agreement with a Chinese company for the construction of the 300-megawatt Balakot hydropower project. — AFP/File

PESHAWAR: The Khyber Pakhtunkhwa government on Tuesday signed an agreement with a Chinese company for the construction of the 300-megawatt Balakot hydropower project.

The 300MW project — said to be the biggest-ever power generation plant in the province — would be constructed with an estimated cost of Rs85 billion in a period of six years with the financial assistance of the Asian Development Bank, said an official statement.

At the signing ceremony, Khyber Pakhtunkhwa Chief Minister Mahmood Khan was the chief guest. Officials of the Pakhtunkhwa Energy Develop­ment Organisation (PEDO) and China Gezhouba Group signed the agreement. KP Finance Minister Taimur Saleem Jhagra and Adviser to CM KP Himayatullah Khan also attended the event along with the high-ups of the energy and power department.

Speaking on the occasion, CM Khan termed the project as of vital importance for the province and a milestone achievement of the provincial government. He said the groundbreaking of the mega-project was expected to be performed by mid-April by Prime Minister Imran Khan.

Rs85bn project will be constructed in six years

The project would play an important role in boosting industrial activities, job creation and overall development of the province, he said, adding that during the construction phase, the project would generate around 4,000 job opportunities. Upon completion, it is expected to generate revenue of Rs14bn per annum, he added.

The CM maintained that power generated by Balakot hydropower project would be provided to local industries as well as to domestic consumers at relatively cheap rates.

The incumbent provincial government was taking result-oriented steps under a well-devised strategy to ensure optimum utilisation of the hydropower potential of the province with the aim to meet its energy requirements and strengthen its economy, the chief minister said.

So far various hydropower projects with a total capacity of 160MW have been completed under PEDO, whereas work is in progress on various other projects having a total capacity of 216MW.

Published in Dawn, March 10th, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Editorial

Shocking ambush
13 Mar, 2025

Shocking ambush

The sophistication of attack indicates that separatists likely had support from experienced external players.
Suffocating crisis
13 Mar, 2025

Suffocating crisis

THREE of the five countries with the most polluted air on Earth are in South Asia. They include Pakistan, which has...
Captive grid
13 Mar, 2025

Captive grid

IT is a common practice: the government makes commitments with global lenders for their money and then tries to...
State Bank’s caution
Updated 12 Mar, 2025

State Bank’s caution

Easing monetary policy will be difficult for SBP without large, sustainable foreign capital inflows and structural tax reforms.
Syria massacre
12 Mar, 2025

Syria massacre

THERE were valid fears of sectarian and religious bloodshed when anti-Assad militants triumphantly marched into...
Too little, too late
12 Mar, 2025

Too little, too late

WHEN desperation reaches a point that a father has to end his life to save his daughter’s, the state has failed ...