ISLAMABAD: Pakistan-China to accelerate one of the largest projects under the CPEC initiative, according to media reports.
The run-of-river project, Suki Kinari Hydropower Project, is being established alongside the Kunhar River in Khyber Pakhtunkhwa.
One of the largest private sector power development projects, Suki Kinari Hydropower is part of CPEC “Early Harvest” projects. The $1.9 billion project is being built on Build-Operate-Transfer (BOT) model. The BOT model entails that the China Gezhouba Group Corporation (CGGC) will transfer the project to the KP government after operating it for 30 years.
Kunhar River’s power generation potential was first explored in the 1960s but wasn’t materialised. The agreement of construction of a dam on the river was signed by the KP government with SK Hydro Power Ltd and the Industrial and Commercial Bank of China in 2016 that actualised the project.
It has been reported that around 41.85% of construction work has been completed.