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HomeLatest NewsRs. 85 billion accord for construction of Balakot Hydropower Project signed

Rs. 85 billion accord for construction of Balakot Hydropower Project signed

Balakot: In accord with the Khyber Pakhtunkhwa government has signed a contract with a Chinese corporation for the construction of the 300-megawatt Balakot Hydropower Project, which will boost the country’s energy market.

According to the info, the 300MW power plant will be built for Rs. 850 billion over six years with financial assistance from the Asian Development Bank.

Read More: KP government begins construction of Balakot hydropower project

Chief Minister of Khyber Pakhtunkhwa Mahmood Khan was the chief guest at a ceremony to mark the occasion. Pakhtunkhwa Energy Development Organization officials and a Chinese construction firm signed a contract agreement to begin physical work on the plant.

The event was also attended by high-ranking officials from the provincial energy department, in addition to provincial cabinet members Taimur Saleem Jhagra and Himayatullah Khan.

The scheme, according to the chief minister, is “of critical significance for the province and a landmark achievement of the KP administration,” with the prime minister set to lay the foundation stone by the middle of next month.

Read More: District administration imposes Section 4 for Balakot Hydropower project land acquisition

Hydropower projects with a total capacity of 160MW have so far been completed under PEDO, whereas work on various other projects with a total capacity of 216MW is under progress, the CM noted.

For more details, visit our website Property News.

 

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