Islamabad: According to various reports, on Friday, the government of Azad Jammu and Kashmir (AJK) and the Chinese Three Gorges Company signed an agreement for the 1124 megawatt Kohala Hydel Power Project, which is part of the China Pakistan Economic Corridor (CPEC).
CPEC Authority Chairman Lieutenant General (r) Asim Saleem Bajwa declared on Twitter that the project would draw $2.4 billion in foreign investment under the CPEC umbrella.
On the occasion, Federal Minister of Energy Hammad Azhar, AJK Prime Minister Raja Farooq Haider, and other officials were present.
The Kohala Hydropower Project, located near Kohala in Azad Kashmir, is a planned run-of-the-river, high-head project. The project agreement was finalized in 2020 and officially signed in a ceremony attended by Pakistan’s prime minister and the Chinese ambassador to Pakistan.
On January 7, 2015, China Three Gorges Corporation (CTGC), a state-owned hydropower developer, was awarded the right to construct a hydroelectric dam in Pakistan.
This will be the biggest investment by a Chinese company in Pakistan.