MANSEHRA: The district administration has started the process for acquiring over 8000 kanals of land for the construction of the 300 megawatts Balakot Hydropower project in the.
Imran due in Kaghan valley today
June 28, 2021
MANSEHRA: Prime Minister Imran Khan is due in Kaghan valley today (Monday) to visit the 880 megawatts Suki Kinari Hydropower Project and address a notables’ gathering.
Prime Minister Imran Khan would be accompanied by the Chief Minister Mahmood Khan and members of his cabinet hailing from Mansehra district during the visit.According to official sources, the premier would visit Suki Kinari Hydropower Project, the first energy plant across the Khyber Pakhtunkhwa being built under the China-Pakistan economic corridor initiative in the power sector.
“This mega energy project is though scheduled to be completed in 2023, but we expect an early electricity production in December next year as the execution of this project is at full swings at Kunhar River at Kaghan valley,” Bilal Khan, the deputy director commercial and technical affairs of Suki Kinari told reporters.
Balakot Hydropower Project is a Milestone Towards Clean and Affordable Energy: Omar Ayub
The Minister for Economic Affairs, Omar Ayub Khan, and the Chief Minister (CM) of Khyber Pakhtunkhwa (KP), Mahmood Khan, witnessed the signing of the financing agreement of the Balakot Hydropower Development Project amounting to $300 million.
The loan agreement was signed by the Economic Affairs Division (EAD) Secretary, Noor Ahmed, and the Asian Development Bank (ADB) Acting Country Director, Cleo Kawawaki. The total cost of this project is $755 million, out of which the ADB has committed to providing $300 million, while the AIIB will provide $280 million.
For this project, the ADB is providing financing at highly concessional rates LIBOR (6-Month) + 0.5 percent per annum (currently 0.7 percent per annum) for a period of 27 years including a grace period of seven years.