Korea keen to invest in power, water sectors
Offers transfer of expertise, technology to counter floods, manage rivers.
ISLAMABAD:
South Korea has expressed their interest to invest in the hydropower and water sector projects in Pakistan and mutual cooperation in various other projects for flood protection and technical assistance in the water sector.
This was said by Dr Myung-Pil Shim, Minister for National Restoration of Republic of South Korea during a meeting with the federal minister for Water and Power, Chaudhry Ahmed Mukhtar on Monday. The meeting was also attended by the special secretary, additional secretary, joint secretary (water) of Ministry of Water and Power, chairman Water and Power Development Authority (Wapda), Private Power and Infrastructure Board (PPIB), chairman of Federal Flood Commission and other senior officials of the ministry and Wapda.
Shim said that Korean companies were already working on different water and power projects and more investors expressed their intent to invest in the country. Korea possessed expertise in the field of flood mitigation and were interested to share their experiences and technical knowledge with Pakistan. He also discussed various issues of mutual cooperation to enhance economic ties between the two countries. Later, a presentation on ‘Four River Restoration Project’ was given by the Korean delegation regarding flood protection and river management.
While welcoming the delegation, Mukhtar appreciated the Koreans for showing their interest to invest in the power sector. He said that Pakistan had great potential in hydropower generation and 59,000 megawatts (MW) of potential energy was identified in existing hydel power projects. Pakistan was now focusing on indigenous resources to generate cheap electricity. The work on a number of hydropower and water storage projects was in progress. The Koreans were also offered to invest in the Neelum-Jhelum hydropower projects of 969MW and Diamer-Bhasha dam project of 4,500MW.
Published in The Express Tribune, August 28th, 2012.
South Korea has expressed their interest to invest in the hydropower and water sector projects in Pakistan and mutual cooperation in various other projects for flood protection and technical assistance in the water sector.
This was said by Dr Myung-Pil Shim, Minister for National Restoration of Republic of South Korea during a meeting with the federal minister for Water and Power, Chaudhry Ahmed Mukhtar on Monday. The meeting was also attended by the special secretary, additional secretary, joint secretary (water) of Ministry of Water and Power, chairman Water and Power Development Authority (Wapda), Private Power and Infrastructure Board (PPIB), chairman of Federal Flood Commission and other senior officials of the ministry and Wapda.
Shim said that Korean companies were already working on different water and power projects and more investors expressed their intent to invest in the country. Korea possessed expertise in the field of flood mitigation and were interested to share their experiences and technical knowledge with Pakistan. He also discussed various issues of mutual cooperation to enhance economic ties between the two countries. Later, a presentation on ‘Four River Restoration Project’ was given by the Korean delegation regarding flood protection and river management.
While welcoming the delegation, Mukhtar appreciated the Koreans for showing their interest to invest in the power sector. He said that Pakistan had great potential in hydropower generation and 59,000 megawatts (MW) of potential energy was identified in existing hydel power projects. Pakistan was now focusing on indigenous resources to generate cheap electricity. The work on a number of hydropower and water storage projects was in progress. The Koreans were also offered to invest in the Neelum-Jhelum hydropower projects of 969MW and Diamer-Bhasha dam project of 4,500MW.
Published in The Express Tribune, August 28th, 2012.