The Korean firms have been selected to construct two mega hydropower projects – the 665MW-Lower Palas Valley and the 496MW-Lower Spat Gah – on public private partnership (PPP) mode. This was told in a meeting presided over by Water & Power Federal Minister Chaudhray Ahmed Mukhtar. The meeting was held today to review progress on various hydropower projects. Addressing the meeting, the Federal Minister said that the Government was committed to optimal utilization of the indigenous resources for electricity generation in the country. He said that a number of hydropower projects are being implemented on highest priority for the purpose. On completion, these projects will not only help overcome electricity crisis, but also stabilize electricity tariff for the consumers, he further said. Briefing the meeting, WAPDA Chairman said that the Korean firm K- Water will construct the Lower Palas Valley Hydropower Project, while a consortium of two other Korean companies namely Komipo and Posco will implement the Lower Spat Gah Hydropower Project. He said that the Korean firms will together bring in with them an investment amounting to US$3 billion for construction of the two projects. This investment shows the confidence, the financial institutions have in WAPDA for implementation of the projects in water as well as hydropower sectors, he added.
