SEOUL: A leading South Korean Company K-Water will invest in different hydel projects in Pakistan to generate around 3000 MW electricity to help in resolving energy crisis.
This was disclosed by Chairman Korean Water Resources Corporation known as K-Water Kim Kuen Ho while meeting with Prime Minister Syed Yusuf Raza Gilani here on Wednesday.
Chairman Board of Investment Saleem Mandviwala was also present in the meetings.
Prime Minister Gilani congratulated K-Water Chairman for forming consortium with other Korean companies for the implementation of various hydro projects in Pakistan.
Other three important Korean companies are Daewoo Engineering and Construction and Sambu Construction Company have made Star Hydro Power Limited to invest in various energy projects in Pakistan.
The Prime Minister said strategic partnership between Pakistan Wapda and K-Water will be promoted as both are state organizations.
He said MoU will be signed between K-Water and Wapda for formalizing the strategic partnership to execute the water projects with a view to resolve the electricity shortage in Pakistan.
Gilani asked Chairman Board of Investment Saleem Mandviwala to keep in touch with the representatives of KPK, Azad Jammu and Kashmir and Punjab governments to resolve the issues pertaining to the implementations on these projects.
The consortium of these companies led by K-Water will undertake many hydel projects in Pakistan.
Gilani said the projects being completed with the support of South Korean firms would be a flag-ship of friendship between the two countries.
The K-water has more than 40 years' experience managing water resources and regional water supply systems. A government-owned corporation, K-water develops and manages a host of facilities and programs designed to provide the best water supply and water quality available to operate 12 multipurpose dams and other projects.
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