After a nod from the government, Water and Power Development Authority (WAPDA) is expected to formally enter into an agreement with the Chinese conglomerate China Three Gorges Corporation for the construction of at least three hydropower projects in the upper Indus cascade, an official source said.
Per sources, Minister for Water and Power Khawaja Asif has directed WAPDA Chairman Zafar Mahmood to facilitate the Chinese investors in every possible way. The minister’s instructions are to share WAPDA’s technical data about the proposed projects on the Indus with Chinese firm.
The Chinese company has shown interest for the construction of Thakot, Pattan and Bunji power projects. The company is likely to undertake this investment through its subsidiary Three Georges South Asia Investment Limited. WAPDA is already directed to assist the company on these projects.
The source said the time frame for the initiation of the projects is not clear as yet but looking at the Chinese interest, it seems quite possible that they will enter into agreement with WAPDA within the next few weeks. It would be a great achievement as Chinese investment will attract investment from other countries.
It is important to mention that the government is being criticized for ignoring the hydro power sector while promoting the thermal, coal and LNG based power plants. The Diamer Bhasa Dam and Dassu Hydel power projects are on the hold due to the lack of investment.
