PESHAWAR, Pakistan: The Khyber Pakhtunkhwa government has decided to build 545 megawatt hydropower project with an estimated cost of $1.42billion at Kandia valley in Kohistan to provide inexpensive electricity to consumers.
The decision has been taken during a high-level meeting presided over by Chief Minister Khyber Pakhtunkhwa Pervez Khattak and was attended by Minister education Muhammad Atif Khan, MNA Sajida Zulfiqar Khan, General Manager SK-E&C, Eddy Nam, Manager Choris Hwans, Director National Engineering cooperation Babar Mehmood and other officials.
The project would be completed through South Company SK-E&C.
The participants were given first hand information about the company, its quality of work, its experience in the field and the provincial government engagement with the company reflected ToRs and the terms of engagement between provincial government and the company.
The Chief Minister directed the government officials to extend all possible help to Kaiga Hydro project in the whole process of execution and completion of the electricity production project.
Pervez Khattak assured that provincial government would extend all possible help to facilitate the foreign investors in the province. He assured that the government would resolve the land acquisition and would also provide security to the investors and their investment.
The project was being executed through Public Private Partnership and its feasibility had been completed.
The project is different in terms of its execution as it would be carried out under Public Private Partnership and it is also part of the provincial government mission to tap all the sites for maximum electricity production.
The design of the project would be completed in July while the execution would start right from beginning of New Year. The company pleaded to be supported for necessary licensing and acquisition of land for the project.
The Khyber Pakhtunkhwa Chief Minister directed the quarter concerned to move swiftly for resolving the land identification and acquisition of land for the project, resolution of problems related to the project and settling down the rate of the land to be acquired for the project.
The Chief Minister welcomed the South Korean investment in Khyber Pakhtunkhwa and assured the investors all out support for the security of investment and safety of the investors.
Khattak also offered the raw sites for the electricity production in Khyber Pakhtunkhwa and asked the investor to develop these sites through their investment. He assured welcoming and facilitating the foreign investment and added his government has evolved a transparent mechanism having maximum incentives to the investor in the province.
His government has made available the potential advantages of the province to the potential foreign and domestic investors.
Pervez Khattak assured the investors would get reasonable dividend of their investment in Khyber Pakhtunkhwa.
A system has been evolved for the facilitation for foreign investors and which is transparent and open and decisions are taken in a transparent manner and assured that transparency and merit base decision making would never be compromised.