AJK to enjoy benefits of CPEC initiated mega hydro power projects

MIRPUR: Azad Jammu & Kashmir is all set to enjoy benefits of under-progress gigantic project of China-Pakistan Economic Corridor (CPEC) in power generation through the grand $ 2.4 million Dollars Kohala Hydro Power Project near Muzaffarabad.

The sources told APP here on Monday that since Kohala Hydro Power Project is stated to be one of the significant parts of the CPEC, the gigantic project will be completed with the estimated cost of US Dollars 2.4 million. The project will generate 1124 MW electricity.

It is one of the major private-sector hydro power projects in AJK. The project will not only add power to the national grid but also add revenue in the state budget of AJK government besides alleviating poverty and unemployment in the liberated territory.

Famous Three Gorges Company of China with its three subsidiaries Kohala Hydro Power Company, Kerote Hydro Power Company & Mahl Hydro Power Company is developing these projects on fast track basis. This will allay the notions that private sector cannot develop mega hydels.

Expected to complete in a period of five years these projects are going to bring about a huge impact in country's energy, by inducting cheap energy and bringing down energy price, besides bringing a big boost to AJK's economy in shape of Water Use Charges to be paid for 25 years and after 25 years two projects (Kohala and Mahl) will be handed over to AJK.

Experts terms the advent of all the three projects a major break through AJK's Energy Sector.

A very conservative estimate tells us that on completion these projects will bring 3-4,000 Millions of annual income to AJK. And, after 25 years AJK will get dividends equivalent more that two Mangla Dams.