Peshawar: A subsidiary of Korea Electric Power Corporation (KEPCO), called ‘Korea Hydro and Nuclear Power’, has announced its decision to invest USD 1 billion in Khyber Pakhtunkhwa (KP)’s power sector, according to news sources.
The provincial government and the Korean firm have partnered up to invest in a power project in Kohistan, which has a production capacity of 496 MW. The KP government is expected to have a 26% share in the project.
Additionally, the Korean firm also intends to explore investment avenues in wind and solar power generation, aside from developing a hydropower station. The provincial ministers briefed the delegation of the private firm about KP government’s investment and business-friendly policies, and assured the company’s representative of their full cooperation.
South Korea’s Ambassador to Pakistan Kwak Sung-Kyu had previously revealed in a meeting with Federal Minister for Energy Omar Ayub Khan, that various Korean firms were interested in investing in the energy sector of Pakistan.
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