88pc work on CPEC power project completed: Asim Bajwa
Chairman CPEC Authority Lt-Gen (R) Asim Saleem Bajwa has said that 88 percent work on Karot Hydro power Project, a corridor umbrella project, has been completed. Asim Bajwa in a tweet yesterday said that 88 percent work on 720 MW Karot Hydro power Project (1st CPEC Hydro power Project) with an investment of $ 1,720 million, has been completed. The expected completion of the project is April 2022, he informed. Chairman CPEC Authority further said that the location of the project is River Jhelum (Punjab/ AJK) and currently local direct employment from the project is 5,000.
Private Power and Infrastructure Board (PPIB) is the sponsoring agency of the project, while Karot Power Company Ltd is the executing agency of the project. The financial close of the project achieved on 22nd February 2017.
In his recent visit to PPIB Federal Minister for Energy, Muhammad Hammad Azhar was informed that construction work of two large size hydro-power IPPs projects with the accumulated generation capacity of 1604 MW will be completed by December 2022. The 720 MW Karot power project is at advance stages of construction work and is likely to be completed within next financial year.