BEIJING – The Karot hydropower project, being developed onbuild-own-operate-transfer (BOOT) basis under China-Pakistan EconomicCorridor (CPEC), is scheduled to be completed by the year 2020.
The project was launched at the end of 2015 and after completion, it willbe operated by the construction contractor for 30 years. Afterward, theownership will be transferred to the Pakistani government at no cost,according to a report of Chian.org.cn here on Thursday.
With an investment of US $1.74 billion, the power station will have aninstalled capacity of 720MW and an average annual output of 3.2GWh,equivalent to 10 percent of Pakistan’s total hydroelectric power generationin 2017.
This will provide reliable energy support for economic and socialdevelopment. In addition to power generation, it will help flood preventionand sediment control, and improve downstream and reservoir area transportservices.
The project is expected to create more than 2,000 new jobs duringthe construction period, and will spur coordinated and upgradeddevelopment in related sectors.
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The Karot hydropower project is located on the Jhelum River, one of therivers of the Indus River System in northern Pakistan, about 55 kilometerseast of Islamabad.
It is the first hydropower project implemented under the Belt and RoadInitiative, and the first project financed by the Silk Road Fund since itsinception in 2014.
It is also one of the priority projects of the China-Pakistan EconomicCorridor and the largest greenfield investment project ever undertakenoverseas by a Chinese company.
