Karot hydro power project that has total 2,070 workers with 750 Chinese is expected to be completed before time by early 2021.
Construction on the 720 megawatt Karot power station being built on Jhelum river began in December 2016 and looks set to finish nine months ahead of its December 2021 completion date.
a first for a Pakistan hydro-project said Qin Guobin, chief executive officer of the state-owned China Three Gorges Corp. South Asia Investment Ltd. The company has put in place an aggressive strategy to cut the project’s financing costs.
“For us, Pakistan is a strategic market,” Qin said at the site. “If we managed to complete it earlier we can save financing costs and make it more competitive.
Pakistan’s hydro-power generation potential is an estimated 40,000 megawatts, but the existing installed capacity was only 7,116 megawatts in the 2015-16 fiscal year, according to the National Electric Power Regulatory Authority’s latest report.
Three Gorge’s now eyeing the contract for the construction of a 4,500 megawatt Diamir-Bhasha power project in northern Gilgit-Baltistan and northwestern Chillas district.
“Pakistan total installed capacity is equal to one big city of China like Shanghai,” Qin said. “That’s not enough.”