Staff Reporter
Agreements were signed on Tuesday for construction of Azad Pattan Hydropower Project as part of the China-Pakistan Economic Corridor (CPEC). With an investment of over 1.35 billion dollars and 700.7 megawatts of electricity, the Azad Pattan Project will involve no fuel import, enabling the country to move towards cheaper and greener power generation. The Honorable Prime Minister of Azad Jammu and Kashmir Raja Muhammad Farooq Haider Khan, Federal Minister for Power Omer Ayub Khan, Federal Minister for Planning Asad Umar, Chairman CPEC Authority, Lt. Gen (R) Asim Saleem Bajwa, Chief Secretary AJ&K Dr. Shahzad Khan Bangash, Managing Director Private Power and Infrastructure Board (PPIB) Shah Jahan Mirza, federal and provincial ministers, and others attended the ceremony.
The project agreements comprising GoAJ&K Implementation Agreement (GoAJ&K IA) and GoAJ&K Water Use Agreement (GoAJ&K WUA) were signed by Mr. Zafar Mahmood Khan, Secretary Electricity AJ&K and Mr. Li Xiaotao, CEO of Azad Pattan Power Private Limited. The Government of Pakistan Implementation Agreement, Government of Punjab Water Use Agreement and Tripartite Power Purchase Agreements of the Project had already been signed in the presence of the Prime Minister of Pakistan in July this year. Today’s development will further pave the way for achievement of Financial Close of the Project.
Letter of Support (LOS) was issued by PPIB to Azad Pattan HPP which is a Run-off-the River Scheme on River Jhelum located at dual boundary between AJ&K (District Bagh) and Punjab (District Rawalpindi). China Gezhouba Group and Laraib Group Pakistan are the shareholders of the Project. The consortium of lenders consists of China Development Bank, China Construction Bank, Industrial & Commercial Bank of China and Bank of China.
