This was said in a meeting presided over by Federal Minister for Water and Power Chaudhry Ahmed Mukhtar. The meeting was held today to review progress on various hydropower projects.
Addressing the meeting, Mukhtar said that the government is committed to optimal utilisation of indigenous resources for power generation in the country. He said that a number of hydropower projects are being initiated on highest priority.
Water and Power Development Authority (Wapda) has asked the Private Power and Infrastructure Board (PPIB) to undertake these projects and complete the formalities to execute the projects within the minimum possible timeframe.
Briefing the meeting, Wapda chairman said that the Korean firm K-Water will construct the Lower Pallas Valley hydropower project, while a consortium of two other Korean companies namely Korean Midland Power Company (Komipo) and Posco Engineering and Construction Company will build the Lower Spat Gah hydropower project. He said that the Koreans will invest $3 billion for the construction of two projects. The cumulative annual benefits of the projects were estimated at about Rs47billion.
Wapda authorities informed the meeting that it wanted to play a role as the financial sponsor to carry out these projects. Wapda has undertaken the feasibility studies of the projects to be constructed by a consortium of Korean investors, K-P government and Wapda.
The construction period of each project is five years while the estimated cost of the Lower Pallas project is $763 million and Lower Spat Gah is $697 million.
Published in The Express Tribune, August 30th, 2012.
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