ISLAMABAD: Pakistan and China on Monday have signed an agreement for the construction of the Azad Pattan Hydel Power Project worth $1.5 billion.
According to details, Prime Minister Imran Khan witnessed the signing ceremony with China Gezhouba Group Company Limited for Azad Pattan Hydropower Project.
On the occasion, The Prime Minister said, “China-Pakistan Economic Corridor (CPEC) is the future of Pakistan.” PM Imran further said that China is emerging as an economic power on the world’s map.
The premier also said that the CPEC project will prove to be a milestone in the country’s development and prosperity.
Meanwhile, Chairman CPEC Authority Lt Gen (retd) Bajwa said that almost 3000 jobs would be created through the mega project and it would provide an annual income of Rs 1.38 billion to Punjab and Azad Kashmir from water use.
The Chairman CPEC Authority further said, “With an investment of $1.5 billion, no fuel import, we are moving towards cheaper and greener power.”
Earlier in 2019, Pakistan and China agreed to include 700 megawatts Azad Pattan hydropower projects under the CPEC, which is to be financed through Chinese currency. Azad Pattan hydropower project is a run-of-the-river scheme on the River Jhelum with a capability of four hours of daily peaking.
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