Pakistan is a Strategic Market: Qin Guo Bin CEO, Three Gorges Corporation

Chief Executive Officer of the Three Gorges Corporation has said that Pakistan is a strategic market. He said the company via its Korak Hydropower Project is racing to finish one of the biggest Hydro-power projects in Pakistan. The Project is expected to be completed within the nine months ahead of December 2021.

The Karot Hydropower Project is concrete-core dam in Pakistan with an expected capacity of 720 MW. The Karot Hydropower Station in Pakistan is the first investment project of the Silk Road Fund, which is not a part of CPEC, China–Pakistan Economic Corridor and is expected to be completed in 2020.

The said Hydro-project is expected to have an electricity generation capacity of up to 720 Mega Watt and is being constructed by Korat Power Company, under the aegis of Three Gorges South Asia Investment, a subsidiary of China’s Three Gorges Corporation.

The company will run and maintain the project for 30 years after completion at a tariff of 7.57 cents per unit, which will then be transferred to Punjab Government at a nominal price of Rupees 1.

The Chief Executive said that the completion before time will save financing cost.