Cpec Projects: Karot Hydropower Project to Complete
Islamabad: According to news reports, the 720 megawatt (MW) Karot hydropower project on the River Jehlum is 88% complete in terms of construction and is anticipated to be connected to the national grid by April 2021.
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The project is being developed under the Build-Own-Operate-Transfer (BOOT) model and is valued USD 1.98 billion. It is a key component of the China Pakistan Economic Corridor (CPEC), which is a major international trade route. The project will actually cost about USD 1.698 billion; the remaining sum will be interest on the loan.
The project is reportedly being developed by the Karot Power Company, which also reportedly consists of M/s Three Gorges South Asia Investment Ltd (TGSAIL) and Associated Technologies (Pvt) Ltd of Pakistan.
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It was emphasised that the initiative generated USD 1.7 billion in direct foreign investment and directly employed 5,000 locals (DFI). The project would supply the national grid with 3.249 billion units of green energy over the course of the following 30 years at a cost of 7.57 cents per unit, according to the National Electric Power Regulatory Authority.
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