PESHAWAR, Oct 22 (APP):Korean Hydro & Nuclear Power, a public sector South Korean energy company will start work on 496MW Spot Gah Hydel Power Project under the Public Private Partnership (PPP) mode soon.
The government of Khyber Pakhtunkhwa and the Korean company has already signed a memorandum of understanding (MoU). The completion of the project on one hand will bring investment to the tone of millions of rupees and on the other hand will generate new opportunities of employment. It will also generate cheap electricity to help bring the country out of the prevailing energy crisis.
In this connection, Adviser to CM on Energy and Power, Himayatullah Khan presided over a high-level meeting with a delegation headed by the Senior Manager Korea Hydro & Nuclear Power Company, Choi Hyun Joon here on Tuesday. Besides, Secretary Energy, Mohammad Zubair Khan, Additional Secretary Energy, Zafarul Islam Khattak, Chief Executive Officer (CEO), Pakhunkhwa Energy Development Organization (PEDO), Zahid Akhtar and Chief Planning Officer (CPO), Zainullah Shah.
The meeting was told that last year Spot Gah, Hydro Power Project had signed a MoU for starting work on the energy project under the public-private partnership. In that project, the share of private sector is 74% while Khyber Pakhtunkhwa will invest 25% and only 1% will be invested by the Water and Power Development Authority (WAPDA). However, the feasibility and design of the project will be updated before the launching of practical work.
Talking to the delegation, the Secretary Energy and Power, Mohammad Zubair Khan welcomed the starting of work by the Korean company on the hydel power project in Kohistan. However, he said that starting formal work, suggestions will be prepared in connections with signing formal agreement and government level decision.
On this occasion, the Adviser on Energy and Power, Himyatullah Khan told that the project will be completed within a period of five years that would be first-ever big hydel power project to be completed under the public-private partnership mode. The project will earn a receipt of Rs.3 billion per annum for the province.
He assured the Korean delegation that a proposal regarding beginning of work on the project will be presented to the chief minister in next few days that would be followed by launching practical work.
The Korean delegation offer further cooperation to the provincial government in tourism and education sectors.