A Chinese developer, China Three Gorges Corp, is all set to complete the construction of the Karot hydropower project in Pakistan within two years.
According to a news report in China Daily on Wednesday, the project would start generating power by April 2021.
With a total investment of $1.74 billion, the project is expected to solve the power supply bottleneck in Pakistan; providing sustainable and stable energy support.
The 720-megawatt project commenced construction in 2015. When completed, it would produce 3.2 billion kilowatt-hours of clean power every year. This was equivalent to 10 per cent of Pakistan’s total energy output from hydropower stations in 2017, said the report.
According to the newspaper, the first investment project of the Silk Road Fund would pay $23 million in taxes to the Pakistani government; providing over 2,200 jobs for locals during the peak construction period.
China Society for Hydropower Engineering Senior Analyst Zhang Boting said in this regard that despite Pakistan’s limited capital to develop its rich hydropower resources, its cooperation with China, a world leader in hydroelectricity generation, would benefit both sides.
