China Investing in Seven Mega Power Projects
PESHAWAR: The Khyber-Pakhtunkhwa (K-P) EWnergy and Power Department has finalized the feasibility readings for five mega projects in KPK to produce 1,123 megawatts (MW) of electric power.
According to the Department officials, in the recent road-show held in Beijing from April 17-19, the provincial administration had presented initiatives for the construction of seven hydropower ventures with a total aptitude of 1,978MW as the component of the China-Pakistan Economic Corridor (CPEC).
Consequently, Memorandums of Understanding (MoUs) were being signed with different Chinese corporations to start construction on these projects.
Among these seven power projects, the feasibility study for five projects had been finalized and are all set for implementation. The cost-benefit psychoanalysis for the left over two projects is predicted to be completed soon.
The power projects are projected to cost $6.92 billion and are to be set up in Chitral.
Although the MoUs have been signed, it is yet to be determined what section of the cost would be put up with by the K-P administration and how much the Chinese comply will bear. These details are projected to be finalized when appropriate conformities for the projects are signed.
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The officials claim that about 900 Chinese corporations were present as participants in the road-show and 82 MoUs had been signed for 86 organized projects in different sections. The official went on to add that one particular Chinese company had approved to install a solar panel power plant to provide power to over 10,000 schools and 400 hospitals in K-P.
To attain a better consideration of the mechanics, a delegation of Chinese investors is being anticipated to land in K-P in July this year.