Economic ties: Chinese investors to establish 25 hydel power stations

CM appreciates China for helping K-P overcome the energy crisis

Khyber-Pakhtunkhwa (K-P) Chief Minister (CM) Pervez Khattak signed a memorandum of understanding (MoU) on Wednesday with Chinese investors to establish 25 hydel power stations in K-P.

Khattak was speaking to a delegation from CINOTEC, a Chinese energy production company, at the CM Secretariat, Peshawar. The CM expressed confidence that the Chinese government and businesses would invest in K-P, particularly to help the provincial government overcome the energy crisis it faces.

An MoU was signed and documents were exchanged between the company’s country director Mr Song and Secretary Energy and Power Sahibzada Saeed. According to the MoU, the Chinese company will establish 25 hydel power stations at different places along Swat River. These will produce 500 megawatts electricity, and would be injected into the provincial grid within four years. The company director told the CM the feasibility report of three of these hydel stations will be completed within a few months. CINOTEC will obtain loans from Chinese banks for all the projects. The company is already working on Daral Khwar Hydel Power Station in Swat, which is near completion, and is expected to start producing 67MW by next year.

Khattak paid rich tributes to the government and people of China for extending a helping hand to Pakistan in times of need. He maintained the whole-hearted cooperation of the Chinese government in overcoming the energy crisis in Pakistan was a testimony to the strength of their friendship.

To a question about security, Chinese officials told the CM they were not worried about it because they found the people of K-P most hospitable and friendly towards the Chinese.

Pervez Khattak ensured the delegation the Pakistan Tehreek-e-Insaf-led government was not like the regimes of the past. He maintained they will keep a close liaison with the investors throughout, and will solve every problem on a priority basis. Khattak said the new projects will not only help create jobs and increase economic activities, but the electricity produced will be utilised for establishing industrial units and promoting local products in K-P.

Adviser to the CM on Economic Affairs Rafaqatulllah Babar, Investment Promotion Board Vice Chairman Mohsin Aziz, and the administrative secretaries of energy, P&D and other departments were also present on the occasion.