Construction work on Balakot Hydro-power Project, the largest hydropower project of Khyber Pakhtunkhwa on Kunhar River will be started this year in District Mansehra. The project on completion will generate 300MW of electricity. The project will be completed with the joint financial support of Asian Development Bank (ADB) and Asia Infrastructure Investment Bank (AIIB).
Chief Executive Officer (CEO) Provincial Energy Development Organization (PEDO) Engineer Naeem Khan expressed these views in an extraordinary meeting held at the Balakot site with the team members of the Chinese construction company Gazoba and the Turkish consultant company Dolsar working on the project, said an official handout issued here on Tuesday.
Deputy Commissioner Mansehra, Director of the project and other concerned officials were also present in the meeting.
During the meeting, important decisions were also made for initiating practical work on the project by completing the security of foreign engineers from Chinese and Turkish companies working on the project.
CEO Engineer Naeem Khan said that this project is a flagship project of the current provincial government, which will be completed in the next 7 years with an estimated amount of 755 million dollars, in which 80% i.e. US$580 million will be provided by the ADB with the Asia Infrastructure Investment Bank together and the remaining amount will be provided by the provincial government from her own resources.
The completion of the project will bring an annual income of Rs. 15 billion to the province and will provide employment to around 1400 people.