l Karot Power Company (Pvt.) Ltd
  • Vision:
    Uphold Three Gorges Spirit, Create Overseas Classics
  • Mission:
    Build Overseas Quality Project, Foster Grand Image
    for Pak-China Energy Cooperation

Government of Pakistan Implementation Agreement (GoP IA) signed for 720-MW Karot Hydropower project

The Private Power and Infrastructure Board (PPIB) and Karot Power Company on Thursday signed the Implementation agreement that will materialize $1.68 Billion of the project cost for development and operations of 720MW Karot Hydropower Project.The priority project of China Pakistan Economic Corridor is located at River Jhelum and the project is being developed by Karot Power Company Private Limited comprising of M/s Three Gorges South Asia Investment Limited (TGSAIL), a subsidiary of China Three Gorges Corporation (CTGC), owner and operator of world’s biggest hydropower project that produces 22,500MW China Three Gorges Hydropower Project and Associated Technologies (Pvt) Ltd of Pakistan.720 MW Karot Hydropower Project is the first investment by China Three Gorges Corporation in Pakistan in renewable sector and the first hydropower funded and built by a Chinese company in Pakistan which will be another milestone in cooperation in clean energy between China and Pakistan. The Project is the 4th among the 5 Cascade Hydropower Power Projects to be developed along Jhelum River with an installed capacity of 720MW, which will churn out an average annual electricity output of  3206 GW•h.The Execution of Implementation Agreement holds paramount importance and is an important milestone in the Project Development deeming the Government of Pakistan has guaranteed the payment obligations of Power Purchaser, Government of Pakistan and Government of AJ&K under the Concession Documents. This milestone is also a significant achievement for China Three Gorges Corporation (CTG) as it would pave the way for future investments in the Energy Sector of Pakistan and will help reinforce sustainable commercial partnership between our countries for years to come.Total costs for the project is  estimated to be $1.68  billion and will be funded by China's Silk Road Fund,IFC, The Export-Import Bank of China and China Development Bank which will provide financing to the Karot Power Company(Pvt.) Limited. This mammoth project will be built on a "Build-Own-Operate-Transfer" basis for 30 years, after which ownership of the project will be transferred over to the Government of Punjab, PakistanThe Private Power and Infrastructure Board (PPIB) and Karot Power Company on Thursday signed the Implementation agreement that will materialize $1.68 Billion of the project cost for development and operations of 720MW Karot Hydropower Project.The priority project of China Pakistan Economic Corridor is located at River Jhelum and the project is being developed by Karot Power Company Private Limited comprising of M/s Three Gorges South Asia Investment Limited (TGSAIL), a subsidiary of China Three Gorges Corporation (CTGC), owner and operator of world’s biggest hydropower project that produces 22,500MW China Three Gorges Hydropower Project and Associated Technologies (Pvt) Ltd of Pakistan.720 MW Karot Hydropower Project is the first investment by China Three Gorges Corporation in Pakistan in renewable sector and the first hydropower funded and built by a Chinese company in Pakistan which will be another milestone in cooperation in clean energy between China and Pakistan. The Project is the 4th among the 5 Cascade Hydropower Power Projects to be developed along Jhelum River with an installed capacity of 720MW, which will churn out an average annual electricity output of  3206 GW•h.The Execution of Implementation Agreement holds paramount importance and is an important milestone in the Project Development deeming the Government of Pakistan has guaranteed the payment obligations of Power Purchaser, Government of Pakistan and Government of AJ&K under the Concession Documents. This milestone is also a significant achievement for China Three Gorges Corporation (CTG) as it would pave the way for future investments in the Energy Sector of Pakistan and will help reinforce sustainable commercial partnership between our countries for years to come.Total costs for the project is  estimated to be $1.68  billion and will be funded by China's Silk Road Fund,IFC, The Export-Import Bank of China and China Development Bank which will provide financing to the Karot Power Company(Pvt.) Limited. This mammoth project will be built on a "Build-Own-Operate-Transfer" basis for 30 years, after which ownership of the project will be transferred over to the Government of Punjab, Pakistan.///

05-03-2017

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