1.74 billion dollars Karot Hydropower project under CPEC to begin power generation by 2021
China Three Gorges Corporation, the primary developer of the Karot Hydropower project, is set to make the project operational by April 2021, after which it will start generating electricity for the region. The 720 MW power project will produce 3.2 billion kilowatt-hours of electricity, and will provide more than 2000 jobs to the locals. The project will also pay $23 million in taxes to the Pakistani government. The project is one of the major energy projects being established under the China-Pakistan Economic Corridor (CPEC).
Construction of the Karot hydropower project in Pakistan will be completed in two years and start power generation by April 2021, China Daily reported on Wednesday, citing the developer China Three Gorges Corp.
The project, with a total investment of $1.74 billion, will solve the power supply bottleneck in Pakistan and provide sustainable and stable energy support.
When completed, the 720-megawatt project that commenced construction in 2015 will annually produce some 3.2 billion kilowatt-hours of clean power, equivalent to 10 per cent of Pakistan's total energy output from hydropower stations in 2017, said the report.
Being the first investment project of the Silk Road Fund, the hydropower project will pay $23 million in taxes to the Pakistani government and provide more than 2,200 jobs for locals during the peak construction period, the paper reported.
While Pakistan has limited capital to develop its rich hydropower resources, the cooperation of Pakistan and China, a world leader in hydroelectricity generation, will benefit both sides, Zhang Boting, a senior analyst at the China Society for Hydropower Engineering, was quoted as saying.