PPIB, PUI sign LoS for 640MW Azad-Pat­tan Hy­dropower project

Pakistan Observer - - ECONOMY WATCH - STAFF REPORTER

Cur­rency Sell­ing Buy­ing IS­LAM­ABAD—Pri­vate Power In­fra­struc­ture Board (PPIB) and Power Uni­ver­sal In­vest­ment Co. Ltd, Dubai UAE, a sub­sidiary of China Gezhouba Group Com­pany Lim­ited Thurs­day ex­e­cuted Let­ter of Sup­port (LOS) for de­vel­op­ment of 640MW Azad-Pat­tan Hy­dropower Project. Ex­e­cu­tion/Sign­ing of the LOS will lead to fur­ther de­vel­op­ment, fi­nanc­ing, con­struc­tion and sub­se­quently op­er­a­tion of the Project. The 640MW Azad-Pat­tan Hy­dropower Project is a run of the river hy­dropower project lo­cated on River Jhelum on dual bound­ary of AJ&K and Pun­jab hav­ing ca­pa­bil­ity to gen­er­ate clean, re­li­able and af­ford­able 3.075 bil­lion units of elec­tric­ity per year to the na­tional grid.

The Project is lo­cated very close to the load cen­tre and will be con­nected to the na­tional grid through 500 KV trans­mis­sion line. As the Gov­ern­ment at­taches top pri­or­ity to gen­er­ate elec­tric­ity at af­ford­able prices uti­liz­ing in­dige­nous re­sources like coal and hydro, this project as­sumes fur­ther im­por­tance. In line with the pol­icy of the gov­ern­ment, PPIB is han­dling & fa­cili- tat­ing the de­vel­op­ment of this Project for its timely com­ple­tion to meet the fu­ture en­ergy re­quire­ments.

This Project is be­ing de­vel­oped by Power Uni­ver­sal In­vest­ment Co. Ltd, Dubai UAE, a sub­sidiary of China Gezhouba Group Com­pany Ltd. and Laraib Group at Pak­istan. The Project will be im­ple­mented on Build-Own-Op­er­ate-Trans­fer (BOOT) ba­sis un­der the pro­vi­sions of the Power Pol­icy 2002. After com­mis­sion­ing, the Project Com­pany will op­er­ate and main­tain the Project for thirty a pe­riod of 30 years after which it will be trans­ferred to the Gov­ern­ment of AJ&K at a price of just one (01) Ru­pee.

Fur­ther, dur­ing op­er­a­tion and main­te­nance of the Project, the Gov­ern­ment of AJ&K/Pun­jab will re­ceive Rs 1306 mil­lion ev­ery year on ac­count of wa­ter use charges, which would be shared equally be­tween Govt AJ&K and Pun­jab. After trans­fer of the Project to AJ&K, the gov­ern­ment of Pun­jab will re­ceive full amount of wa­ter use charges i.e. Rs.1306 mil­lion per an­num. The PPIB is pro­cess­ing hy­dropower projects with a cu­mu­la­tive ca­pac­ity of around 6400 MW through pri­vate sec­tor which are at var­i­ous stages of de­vel­op­ment.

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