Islamabad: According to various sources, Lt-Gen (R) Asim Saleem Bajwa, Chairman of the CPEC Authority, announced that 88 percent of the work on the Karot Hydropower Project, a corridor umbrella project, has been completed. Asim Bajwa said in a tweet yesterday that 88 percent of the work on the 720 MW Karot Hydropower Project (1st CPEC Hydropower Project) has been completed, costing $ 1,720 million. He claimed that the project will be completed in April 2022.
The project’s position is River Jhelum (Punjab/AJK), according to the Chairman of the CPEC Authority, and the project currently employs 5,000 people locally.
The project’s sponsoring agency is the Private Power and Infrastructure Board (PPIB), and the project’s executing agency is Karot Power Company Ltd. On February 22nd, 2017, the project reached its financial close.
Muhammad Hammad Azhar was told during his recent visit to PPIB Federal Minister for Energy that construction work on two major hydro-power IPPs projects with a combined generation capacity of 1604 MW will be completed by December 2022. The 720 MW Karot power project is nearing completion and is expected to be completed within the next fiscal year.