World Bank to finance two 245 MW hydropower projects in KP

• This decision was taken in a high-level meeting
• 450 million dollar agreement has already been signed
• Secretary Energy KP both power projects were very important

PESHAWAR: The World Bank will provide financial assistance for the construction work on two hydropower projects of 245 megawatts in district Swat of Khyber Pakhtunkhwa this year which after completion, will generate an annual income of more than Rs.13 billion for the province.

It was also decided to add a security package by making quick amendments in the documents before starting these energy projects.

This decision was taken in a high-level meeting with the World Bank mission which was attended by Secretary Energy and Power Nisar Ahmad Khan.

World Bank Senior Energy Specialist Muhammad Saqib, members of the World Bank mission, Chief Executive Officer (CEO) Pakhtunkhwa Energy Development Organization (PEDO), Engineer Naeem Khan, Chief Engineer of KHRE Program Shah Hussain and respective project directors, said a press release issued here on Sunday.

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During the meeting, Chief Executive PEDO Engineer Naeem Khan, while giving a briefing, said that with the financial support of the WB, the construction work on 2 hydropower projects in Swat district of Khyber Pakhtunkhwa would be started this year, which include 157 MW Maidyen Hydropower Project and 88 MW Gabral Kalam Hydropower Project.

In this regard, a 450 million dollar agreement has already been signed between the WB and the provincial government. Moreover, these projects will be completed by 2027.

Speaking on the occasion, Secretary Energy KP, Nisar Ahmad Khan said that both power projects were very important for the development and prosperity of the province, the completion of which would start a new era of development in the province. On one hand, the projects will bring huge investment in the province and on the other hand, it will make available new employment opportunities, he added.

He assured the World Bank mission that the provincial government was making fool-proof arrangements for the security of the staff working on the energy projects and was in touch with the local police, administration and other security agencies.

He issued instructions to the officials that security package should be prepared and practical work may soon be started so that the people of the province can benefit from its fruits.