Peshawar: The provincial cabinet has approved a Memorandum of Understanding (MoU) signed between the Khyber Pakhtunkhwa government and Korea Hydro and Nuclear Power Company (KHNPC) for the construction of 496MW Spatgah power project in Kohistan district, a news source quoted Minister for Information Shaukat Yousafzai. He said the project costs about one billion USD and would run under public-private partnership.
The minister said that the provincial government would keep 26% of the shares of the project, while KHNPC will be the majority shareholder. He added that 256 out of 356 micro hydro power projects have been completed.
He said the projects would be transferred to local communities after operationalisation, adding that PEDO Act would have to be amended to achieve the task.
On the FATA merger, the minister said a committee has been constituted under the chairmanship of Senior Minister Atif Khan that would finalise the modalities relating to financial and development matters of the erstwhile tribal areas.
