ISLAMABAD - Two Chinese firms have expressed enthusiasm to take up projects in hydel power generation and construction of proposed Peshawar mass-transit and express ways in Khyber Pakhtunkhwa.
Offers of investment in this regard were conveyed to Advisor to KPK Chief Minister Rafaqat Ullah Babar by China-Beixin and Chen Qijin Roads and Bridges Company ltd. Xinjiang Beixin in a meeting at the Pakhtunkhwa House on Saturday.
The joint delegation of these firms was led by Zhang Lida where they were briefed in detail about investment opportunities in these sectors of the Province.
Immediately at the moment, they said that they would anytime take up construction of any hydel power project costing up-to $300 million while they would seriously consider investment in the proposed railways mass-transit scheme for Peshawar and the construction of double-lane express ways from M-1, at Swabi up-to Chakdara Malakand.
In this regard they were handed out details about all the three avenues of investments and by upcoming Monday they will finalise details of the terms and conditions of the final agreement.
The advisor to CM informed that he will take up these details with the concerned authorities to pave the way for starting physical work over it soon.
The delegation also assured Rafaqatullah Babar that in view of the opportunities of investment in Khyber Pakhtunkhwa created by the present government they will also invite more investors from China particularly Urumqi.
Babar also said on this occasion that while the provincial government was making every effort to help the investors they were seriously interested in quality of work and the time taken in its execution.
This was instantly reciprocated by the members of the delegation and assured that on the one hand they will ensure quality while on the other; they would complete the projects once taken up within the shortest possible and stipulated time.
It was also informed on this occasion that such investors can import machinery for execution of such development schemes without paying any custom duty.
It is worth mentioning that just the other day another Chinese Firm, China Water and Electric Corporation had separately offered to invest in the hydel-power generation of Khyber Pakhtunkhwa.
They too had agreed in another meeting with Rafaqatullah Babar that they wanted to take up such projects, its design and construction as early and as much as possible.
The KPK government and such foreign investors are working on finalization of the details of agreements in this regard.
The construction of Peshawar Mass transit and Malakand were long due and the present provincial government is seriously working on it so that both of these mega-development projects are taken up in the larger interest of the people of the province at the earliest.
It is interesting to mention here that 76 percent of the country’s total hydel potential (or 45,861-megawatt) of 59,796-megawatt can be harnessed in Khyber-Pakhtunkhwa and Gilgit-Baltistan.
Alone KPK is generating just 3,849MW of electricity from its operational hydropower projects, while projects under implementation have the potential to generate 9,482MW.
The provincial government is carrying out work on as many as 28 such projects.
Feasibility studies of 77 projects have been completed while raw sites with a potential for generating 8,930MW of electricity have also been identified. KPK’s Shydo had already developed a fast-track hydro development plan for 24 projects with a total capacity of 2,156MW with an investment outlay of Rs350 billion.
This plan includes three projects for 56MW as short-term, eight medium-term projects with a capacity of 600MW as and 13 long-term projects with generation capacity of 1,500MW.