PM visits 720MW Karot Hydropower Project; says bridging energy needs govt top priority

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APP54-04 KAROT: May 04 – Prime Minister Shahid Khaqan Abbasi being briefed on the progress of work on Karot Hydropower Project. APP

KAROT, May 04 (APP):Prime Minister Shahid Khaqan Abbasi Friday visited the Karot Hydropower Project, being constructed on the Jhelum River to add 720 megawatt to national grid.
The project is the fourth among the five cascade hydropower projects being developed along the Jhelum River.
During a briefing given to the prime minister by a representative of the Chinese firm, the prime minister was told that the project would be completed within 60 months.
Prime Minister Abbasi, who was accompanied by Minister for Information and Broadcasting Marriyum Aurangzeb, said the government would extend all possible assistance to the contractor for successful execution of the project. He said it was the government’s top priority to meet the energy needs of the country.
He expressed satisfaction over the pace of the construction work on the project and said the government would cooperate to cope with country’s energy requirements.
The project’s installed capacity is 720MW with an average annual electricity output of 3206 GWh. Its structure layout includes rock-fill dam, spillway, powerhouse, diversion tunnels, head race power tunnels and tail race tunnel.
The project is being developed on Build-Own-Operate-Transfer basis with five years construction period and 30 years concession period.
Karot Hydropower Project, executed by Karot Power Company (Pvt.) Limited, has been listed as one of the prioritized projects
under the China Pakistan Economic Corridor. The project’s main sponsor, China Three Gorges (CTG) South Asia Investment Limited, is an investment arm of CTG Corporation in South Asia.
Once the project completes, the federal government would gain about Rs 1.5 billion in tax revenues over the five years of construction period. Furthermore, the governments of Punjab and the Azad Jammu and Kashmir would get Rs 0.676 billion proceeds a year respectively in 30 years’ operation.
The construction of the project has also provided employment to more than 2,000 people.