Islamabad: China-Pakistan Economic Corridor (CPEC) Authority Chairman Asim Saleem Bajwa, through a tweet earlier in the day, announced that Pakistan and China would be signing an agreement for the construction of the Azad Pattan Hydel Power Project later today.
The chairman took the opportunity to highlight that the said agreement marked another milestone achievement for the CPEC initiative. He further revealed that the project agreement was to be signed with a firm called ‘China Gezhouba’ — with Prime Minister Imran Khan set to attend the ceremony as well.
In addition, Chairman Bajwa disclosed that the project was expected to bring an investment of USD 1.5 billion, and that as there were no fuel imports involved, it would help Pakistan move towards cheaper and greener energy.
Reportedly, Pakistan and China had agreed to include the 700-megawatts project under CPEC last year, and the venture will be financed through Chinese currency.
A run-of-the-river project on River Jhelum, it will be located near Azad Pattan Bridge and will have a capability of four-hour peaks daily. The project is expected to be completed by 2026.