August 24 , 2016
News
KP inks 870 MW hydro power project
By: APP
PESHAWAR: Khyber Pakhtunkhwa’s government on Wednesday signed an agreement of 870 Megawatt (MW) Suki Kinari Hydro Power Project with SK Hydro Pvt Limited and Industrial and Commercial Bank of China.Provincial Minister for Energy and Power and Education Muhammad Atif Khan witnessed the signing ceremony. Under the agreement the project would be completed at a cost of Rs 200 billion within 5 years.
The province – besides getting Rs 1.5 billion annual as water used charges – would also get additional 113 MW electricity of its share. The electricity produced from the project would be transferred to the National Grid for further distribution to the entire country.
After 30 years, the project would be handed over to government of Khyber Pakhtunkhwa free of cost and its full income would be given to this province, said a press release.
Later, talking to media on the occasion, the minister said that the project was not only useful for Khyber Pakhtunkhwa but for the entire country as it would prove helpful in removing short fall of electricity in the country.
He disclosed that KP Government was soon going to ink agreements of 69 MW Lawi, 84 MW Mataltan, 300 MW Balakot and Sharmai Hydro Power Projects and practical work would also be started on these projects soon.
Atif Khan maintained that hydro power generation was not only cheap but also puts positive environment impact as compared to coal power adding that it would also save foreign reserve of the country.
Courtesy www.dailytimes.com.pk