PESHAWAR
The Chief Executive Officer of Pakhtunkhwa Energy Development Organization (PEDO) Naeem Khan has said that construction work on Balakot Hydropower Project, the largest hydropower project of the province, would be started this year.
The Balakot Hydropower Project would be built on Kunhar river and will be completed with the joint financial support of Asian Development Bank (ADB) and Asia Infrastructure Investment Bank (AIIB).
Mr Naeem maintained that “the project is a flagship project of the incumbent provincial government which will be completed at a cost of 580 million dollar. The project, having a combined potential to generate more than 300 megawatts of hydroelectric power, will start its commercial operation in seven years”.
As per the agreement, AIIB and ADB will provide 580 million dollars for the construction of the hydropower while the remaining share will be allocated by the provincial government. He said the team members of the Chinese construction company Gazebo and the Turkish consultant company Dolsar are working on the project. The CEO added that the process for acquisition of land for the project was underway and design work of the project has also been successfully completed.
The completion of the project will bring an annual income of Rs15 billion to the province and will provide employment to around 1400 people. “It will prove to be a game changer to eradicate poverty and create employment opportunities,” he added.
