PESHAWAR: Chief Minister Khyber Pakhtunkhwa Mahmood Khan has directed Pakhtunkhwa Energy Development Organization (PEDO) to timely complete arrangements and preparations for ground breaking of 300 MW Balakot Hydro Power Project by March.

He was presiding over 6th Policy Board meeting of PEDO here on Saturday. The meeting among others was attended by Adviser to Chief Minister on Energy and Power, Hamyataullah Khan, Additional Chief Secretary, Shakeel Qadir, Secretary Energy, Muhammad Zubair, Chief Executive Officer of PEDO and other concerned officials.

Meeting gave go ahead to PEDO for awarding contract to winning construction companies for construction of Balakot Hydropower Station. Progress made on implementation of decisions taken in the last meeting of the Policy Board were also reviewed in the meeting

It was told that 300 MW Balakot Hydropower Project is located on river Kunhar and total estimated cost of project is 750 million dollar whereas total cost of PC-1 approved by ECNEC is Rs. 85,912 million. The bidding process and hiring of contractors for construction has been completed and a joint venture of two different construction companies has been formed.

Participants of meeting also approved joint venture of two construction companies and allowed PEDO to proceed and sign contract.

Meeting was informed that project would be executed in collaboration with Asian Development Bank and preparations are underway for foundation stone laying in March this year.

The meeting also approved a social enterprise model for operation and management of micro hydropower projects with a generating capacity of 100 KW and above.