Devil Soul
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LAHORE: Exim Bank of China will provide Pakistan $448 million for the strategically important 969-megawatt Neelum Jhelum Hydropower Project and an agreement in this connection has been signed between the two sides.
This agreement is a significant development in efforts to secure financial resources for (completing) the remaining work on under-construction Neelum Jhelum Hydropower Project, said a press release issued by the Water and Power Development Authority here on Tuesday.
The Neelum Jhelum project, being constructed on the Neelum River in Azad Jammu and Kashmir, will not only produce low-cost hydroelectric power to ease electricity shortages in the country, but will also establish priority rights over water. India is also constructing a dam upstream of Neelum Jhelum project to complete it first and win rights over water.
Wapda said that in view of the projects significance, it was making all possible efforts to remain within the timeframe and complete the project by 2016.
At present, according to Wapda, construction work on all sites is going on satisfactorily. Of the tunnels stretching over 67 km, 34.24 km (51%) have so far been dug, while excavation of an underground power house stands at 75.24% and transformers hall at 96.33%.
Work on Nauseri Bridge over Neelum River has been completed and second-stage diversion of the river has also been given final touches.
After coming on stream, the hydropower project will contribute 5.15 billion units of cheap electricity every year. Annual benefits of the project have been estimated at about Rs45 billion.
Published in The Express Tribune, May 29th, 2013.
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This agreement is a significant development in efforts to secure financial resources for (completing) the remaining work on under-construction Neelum Jhelum Hydropower Project, said a press release issued by the Water and Power Development Authority here on Tuesday.
The Neelum Jhelum project, being constructed on the Neelum River in Azad Jammu and Kashmir, will not only produce low-cost hydroelectric power to ease electricity shortages in the country, but will also establish priority rights over water. India is also constructing a dam upstream of Neelum Jhelum project to complete it first and win rights over water.
Wapda said that in view of the projects significance, it was making all possible efforts to remain within the timeframe and complete the project by 2016.
At present, according to Wapda, construction work on all sites is going on satisfactorily. Of the tunnels stretching over 67 km, 34.24 km (51%) have so far been dug, while excavation of an underground power house stands at 75.24% and transformers hall at 96.33%.
Work on Nauseri Bridge over Neelum River has been completed and second-stage diversion of the river has also been given final touches.
After coming on stream, the hydropower project will contribute 5.15 billion units of cheap electricity every year. Annual benefits of the project have been estimated at about Rs45 billion.
Published in The Express Tribune, May 29th, 2013.
Like Business on Facebook to stay informed and join in the conversation.
