ISLAMABAD (DNA) : Letter of Interest (LOI) has been issued to 590 MW Mahl Hydropower Project to consortium of M/s CWE Investment Corporation China(a subsidiary of China Three Gorges) and M/s Trans Tech Pakistan.
Sheng Zhendong countersigned the LOI document on behalf of sponsoring consortium, while on behalf of the Government of Pakistan (GoP), Mr. Shah Jahan Mirza, Managing Director, PPIB signed the document. Federal Minister for Water and Power, Khawaja Mohammad Asif witnessed the ceremony.
Board members of PPIB and senior government officials besides representative of sponsoring consortium also present on the occasion.
The Mahl project is a Run-of-River Hydropower Project which is being set up at the dual boundary of Punjab and AJ&K, with an estimated cost of US$ 1200 million.
While presiding over the 98th meeting of PPIB Board, the Minister Khawaja Asif said that the primary focusof the government is on local resources for power generation and emphasis is on coal in the southern region and hydro projects in the northern region of the country. The enormous amount of coal at Thar needs to be utilized for power generation for which the work has been started.
In the meeting today it was decided to expedite the two projects at Thar coal, i.e 1200 MW by China Power International Holding and 660 MW by EngroPowergen Ltd. and it was informed that Letters of Interest would soon be issued to both the projects.It was also decided by the Board to advertise the 350 MW Athmuqam Hydropower Project to be located on river Neelum in AJ&K to renew investor interest in the area.
The Minister said that various power projects have been signed during the recent visit of Prime Minister Nawaz Sharif to China, and the Chinese companies are eager to invest in Pakistan.