$2.4 b Kohala Hydel Project deal inked with Chinese firm

0
36 views

By Ali Imran

ISLAMABAD: A tripartite agreement was signed here Thursday between a Chinese company and the governments of Pakistan and China for construction of 1,124 megawatt Kohala Hydropower Project costing $2.4 billion.
The signing ceremony, held at PM Office, was witnessed by Prime Minister Imran Khan, Azad Jammu and Kashmir Prime Minister Raja Farooq Haider, federal cabinet members, Chinese Ambassador in Pakistan Yao Jing, CPEC authority, Chairman Lt. Gen. (R) Asim Saleem Bajwa and representatives of Chinese company. It is the largest power sector investment of $2.4 billion in a single Independent Power Producer (IPP). Kohala Hydropower Project, being built on Jhelum River in Azad Kashmir under CPEC, has been awarded to Kohala Hydropower Company Ltd (KHCL), which is a subsidiary of China Three Gorges Corporation (CTGC).