CPEC Updates

Rs. 1.74 trillion Chinese investment in KPK in power sector

en.ppostnews.com: Peshawar, Khyber Pakhtunkhwa (KP) Chief Minister (CM) Pervez Khattak on Monday welcomed the Rs 1.74 trillion Chinese investment to improve the power sector in the province.

Per details, the investment package included, three hydel power generation projects in Chitral that would have the capacity to generate 674 megawatts (MW) of electricity. Funds would also be used for the establishment of grid stations at two sites after a network of high power 500 KVA transmission lines were laid down to link the power stations from Chitral to Chakdara.

The investment offer was made to the KP government by executives of the Chinese company, namely Sichuan CNNC Southwest New Energy Ltd, during a meeting with the chief minister at the CM House in Peshawar.

Strategic Support Unit Head Sahibzada Saeed, KP Department of Energy Secretary Muhammad Naeem Khan, Principal Secretary to CM Shahab Ali Shah, Special Secretary to CM Akhtar Saeed Turk and other officials concerned also attended the meeting. The meeting finalised the prerequisites for the project, starting with a detailed estimation of these projects to be submitted by October 30.

Pervez Khattak directed the officials concerned to complete necessary documentation and provide a detailed estimation of the projects so that the government could issue a No Objection Certificate (NOC) to the Chinese company for the construction of the said power stations.

It merits mention here that the three power stations included, Toreen Morkari Power Station with the capacity to produce 350 MW of electricity, Jaim Shull Toreen Mor Power Station with the capacity to generate 260 MW of electricity, and Mojigram Shaghoor Power Station with the capacity of generating 64 MW of electricity.

Earlier, CM Khattak was informed by the company’s executives that they had completed the preliminary work on these projects and the feasibility, including seeking permission of the Chinese government, was being processed with the help of KP government. They also informed that meetings for different phases of the project have already been finalised.

The chief minister said that it was his government’s dynamic policy that had attracted both domestic and foreign investment to the province, while adding that KP had emerged as the most suitable destination for foreign investors in the country.

Citing reasons for the existence of investment-friendly policies in the province, the CM said that improvement in law and order situation and purging all institutions of corruption were the primary reasons behind generating investors interest in different sectors.

Further, Khattak said that his government would provide guarantee of safe investments to all parties interested in starting projects in KP. A tripartite agreement would be signed between the provincial and federal government and the companies concerned to ensure security for the investors, he added.

Moreover, he said that the National Electric Power Regulatory Authority (NEPRA), responsible for fixing tariff for power projects, would also cooperate in this connection. The CM informed that the provincial government had already approved the import of machinery for the hydel projects. However, he made it clear that the resources should be efficiently utilised.

Later, the KP chief minister directed the provincial energy department to prepare a feasibility report of all hydel power generation projects and identify sites in all districts before giving final recommendations.

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