The Energy and Power Department of Khyber Pakhtunkhwa has signed an agreement with a South Korean company, Korea Hydro and Nuclear Power (KHNP), to build a 496 megawatts Spat Gah Hydropower Project.
The proposed power project will be constructed in Kohistan district. The power project would be set up on the Public-Private Partnership (PPP) mode.
While speaking at the contract signing ceremony, Chief Minister KP Mahmood Khan stated that the foreign investment in the energy sector of KP was a welcome step.
He underlined the need to utilize the available resource efficiently for bringing the country out of the present crisis.
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, and other officers were also present at the occasion.
Notably, the Memorandum of Understanding (MoU) for initiating the project was signed earlier between the Secretary Energy and Power Muhammad Salim Khan and the Chief Executive of the Korean company KHNP.
The project is estimated to be completed in the next five years. Moreover, it is a mega hydropower project that will generate 496 megawatts of power for the northern province and contribute Rs.3 billion in its exchequer annually.
Via: The News