Paving the way: Foreign investors’ interest piques in hydel-power, transit investments

Chinese firms talk of investing up to $300 million in power generation.

After a summer of roaring protests against 20-hour-long power outages and alleged government mismanagement of power supply, the interest of Chinese firms developing the sector comes as a welcome refrain to Khyber-Pakhtunkhwa (K-P).

A delegation of the two companies, China-Beixin and Chen Qijin Roads and Bridges Company Ltd Xinjiang Beixin, met with officials at the Pakhtunkhwa House in Islamabad on Saturday. Adviser to K-P CM Rafaqatullah Babar was also present, read a notification issued by the K-P director of information.

The two firms expressed an interest in investing up to $300 million in hydel-power generation projects. The delegation, led by Zhang Lida, also discussed investing in mass-transit schemes for Peshawar and a double-carriage expressway from M-1 Swabi till Chakdara, Malakand.

According to the handout, the firms were provided with details into the three projects and a final agreement is expected to be churned out by Monday.

The delegation noted they could introduce more investors from China, in particular from Urumqi, to make the most of opportunities present in the province.

Another Chinese firm, China Water and Electric Corporation has also expressed an interest in investing in hydel-power projects in K-P in a meeting with Babar.

Around 76% (or 45,861MW) of the country’s total hydel-power potential can be harnessed in Khyber-Pakhtunkhwa and Gilgit-Baltistan.  “Currently, K-P is generating 3,849MW of electricity from its hydropower plants,” read the notification.

Published in The Express Tribune, September 29^th, 2013.