Islamabad: In a recent news report, The Karot hydropower project, which is being constructed on the River Jehlum, is 88% complete, and it is scheduled to be connected to the national grid by April 2022.
The USD 1.98 billion project, which is part of the flagship China Pakistan Economic Corridor (CPEC), is being built under the Build-Own-Operate-Transfer (BOOT) concept. The project will cost about USD 1.698 billion in total, with the rest being interest on the loan.
According to reports, the project is being developed by the Karot Power Company, which comprises M/s Three Gorges South Asia Investment Ltd (TGSAIL) and Associated Technologies (Pvt) Ltd of Pakistan.
The initiative directly employed 5,000 local inhabitants and generated USD 1.7 billion in direct foreign investment, according to the report (DFI). If finished, the project will deliver 3.249 billion units of green energy to the national grid at a rate of 7.57 cents per unit for the next 30 years, according to the National Electric Power Regulatory Authority.
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