PESHAWAR: In an important development for the country’s energy sector, the Khyber Pakhtunkhwa government has signed a contract agreement for the construction of 300-megawatt Balakot Hydropower Project with a Chinese company.
As per details, the 300MW power project would be constructed with an estimated cost of Rs850 billion in a period of six years with financial assistance from the Asian Development Bank.
A ceremony to this effect was held on Tuesday with Chief Minister Khyber Pakhtunkhwa Mahmood Khan as chief guest. Concerned authorities from the Pakhtunkhwa Energy Development Organization and the Chinese construction company signed the contract agreement to start physical work on the project. Besides provincial cabinet members Taimur Saleem Jhagra and Himayatullah khan, the event was also attended by the high ups of the provincial energy department.
Speaking on the occasion, the chief minister termed the project “of vital importance for the province and a milestone achievement of the KP government”, adding that the groundbreaking of the project is expected to be performed by the prime minister by the mid of next month.
