Islamabad: The construction work on the 720-megawatt (MW) Karot hydropower project being developed on River Jehlum is 88% complete, and the project is expected to be connected to the national grid by April 2021, news sources reported.
The project, which is part of the flagship China Pakistan Economic Corridor (CPEC), is being developed under the Build-Own-Operate-Transfer (BOOT) model and is worth USD 1.98 billion. The actual cost of the project will be around USD 1.698 billion, with the remainder being interest on the loan.
Reportedly, the Karot Power Company, which includes M/s Three Gorges South Asia Investment Ltd (TGSAIL) and Associated Technologies (Pvt) Ltd of Pakistan, is developing the project.
It was highlighted that the project directly employed 5,000 local residents and attracted USD 1.7 billion in direct foreign investment (DFI). According to the National Electric Power Regulatory Authority, if completed, the project would provide 3.249 billion units of green energy to the national grid at a rate of 7.57 cents per unit for the next 30 years.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
