Pakistan and China sign 1,124 MW Kohala Hydropower Company Ltd (KHCL)
A tripartite agreement between a Chinese company and governments of Pakistan and China was inked for the construction of Kohala Hydropower Project. The project, which will cost $2.4 billion, will produce 1,124 MW. It is the largest power sector investment into a single Independent Power Producer (IPP) to date.
Kohala Hydropower Project will be constructed on Jhelum River in Azad Kashmir. It is a part of the larger CPEC project and has been awarded to Kohala Hydropower Company Ltd (KHCL), which is a subsidiary of China Three Gorges Corporation (CTGC).
Prime Minister Imran Khan, Azad Jammu and Kashmir Prime Minister Raja Farooq Haider, federal cabinet members, Chinese Ambassador in Pakistan Yao Jing, China Pakistan Economic Corridor (CPEC) authority, Chairman Lt. Gen. (R) Asim Saleem Bajwa and representatives of Chinese company were present at the PM’s Office for the ceremony.
Lt. Gen. (R) Asim Saleem Bajwa tweeted that the project will create 5,000 direct jobs and will help in producing cheap electricity.
Prime Minister Imran Khan expressed his delight at the event. He said that the project will help the environment as water and not fossil fuels will be used for power generation. He also said that it will help in lowering the import bill for oil and lessen the burden on the foreign reserves.
Raja Farooq Haider, the Prime Minister of Azad Jammu and Kashmir said that the project will create more job opportunities for the locals.