Chinese Company To Invest $2.4 Bn In CPEC Kohala Hydel Project

Chinese company to invest $2.4 bn in CPEC Kohala Hydel Project

The government of Azad Jammu and Kashmir (AJK), and Chinese Three Gorges Company on Friday signed agreements related to 1124 megawatt Kohala Hydel Power Project- Implementation and Water Usage under China Pakistan Economic Corridor (CPEC)

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Apr, 2021 ) :The government of Azad Jammu and Kashmir (AJK), and Chinese Three Gorges Company on Friday signed agreements related to 1124 megawatt Kohala Hydel Power Project- Implementation and Water Usage under China Pakistan Economic Corridor (CPEC).

The project would attract a foreign investment of $2.4 billion under the umbrella of CPEC.

This was announced by CPEC Authority, Chairman, Lieutenant General (R) Asim Saleem Bajwa, on his Twitter handle.

"Signing ceremony for 1124 MW Kohala Hydel Power Project- Implementation and Water Usage Agreements held between AJK Government and China Three Gorges Company," the Chairman CPEC Authority tweeted.

Federal Minister of Energy Hammad Azhar, AJK Prime Minister Raja Farooq Haider and others officials were present on the occasion.

The Kohala Hydropower Project is a proposed run-of-the-river, high head project will be located near Kohala, in Azad Kashmir.

The agreement for the project was finalised in 2020 and later it was formally signed in a ceremony attended by the Pakistani prime minister, and Chinese ambassador.

China Three Gorges Corporation (CTGC), the state-owned hydropower developer, had won the right to develop a hydroelectric dam in Pakistan on January 7, 2015. It will be Chinese company's largest investment in Pakistan.