Lahore, South Korean firms have been selected to construct two mega hydropower projects 665MW-Lower Palas Valley and 496MW-Lower Spat Gah – on public private partnership (PPP) mode.
This was told in meeting presided Wednesday by Water & Power Minister Ch. Ahmed Mukhtar which reviewed progress on various hydropower projects. Minister said government is committed to optimal utilization of indigenous resources for electricity generation in the country. A number of hydropower projects are being implemented on highest priority and completion, these will not only help overcome power crisis, but also stabilize electricity tariff for consumers, he added.
WAPDA Chairman said Korean firm K-Water will construct Lower Palas Valley Hydropower Project. A consortium of two other Korean companies Komipo and Posco will implement Lower Spat Gah Hydropower Project. He said Korean firms will together bring in investment of US$3 billion for construction of two projects. This investment shows confidence, financial institutions have in WAPDA for implementation of projects in water as well as hydropower sectors.
He said two projects will contribute more than 47 billion units of low-cost electricity to national grid annually. Cumulative annual benefits of projects are estimated at about Rs 47 billion, he added. Lower Palas Valley Hydropower Project is located on left tributary of River Indus, some 12km upstream of Patan town and 335km from Islamabad in Kohistan District of Khyber Pakhtunkhwa Province. Lower Spat Gah Hydropower Project is located on another left tributary of River Indus some 8km downstream of Dasu town and 365km from Islamabad in District Kohistan of KP Province.
