By Roshan Mughal
Muzaffarabad: The agreements to implementation, water use and land lease for the first China-Pakistan Economic Corridor (CPEC) energy project in Pakistan-administered Kashmir (PaK) were signed here on Wednesday.
The agreements were signed at a ceremony attended by the prime minister, ministers and top officials of the state government and the chief executive officer of China’s Three Gorges Corporation and the Karot power company.
Private sector’s largest-ever 720-mw Karot power project will be constructed over river Jhelum at Karot which borders PaK in southern District Kotli. It will be completed in 2021 with the cost of 1.68 billion US dollars. The project will produce 3206 GWH mean energy annually which will fetch 676 million to PaK economy every year.
Prime minister PaK Raja Farooq Hadier Khan while addressing the ceremony said the first CPEC power project in PaK will help cement the time tested friendly relationship between China and Pakistan besides bringing economic prosperity in the state.
He said PaK is blessed with huge hydro power and tourism potential and developing both will be top priority of his government.
Hadier said there is no security problem for foreigners in PaK and the area is ideal for investment in energy and tourism.
Fayyaz Ali Abbasi, electricity secretary of the Pakistan government, said at the ceremony that most of the energy resources of Pakistan are in PaK.