Pakistan inks $2.4b agreement for 1,124MW Kohala Hydropower Project

08:43 AM | 26 Jun, 2020
Pakistan inks $2.4b agreement for 1,124MW Kohala Hydropower Project

ISLAMABAD – The government of Pakistan has signed 2.4 billion dollars agreement for 1,124 megawatt Kohala Hydropower Project.

While addressing the signing ceremony of the agreement in Islamabad, prime minister Imran Khan termed the agreement a great step towards bringing foreign investment in the country and said that the agreement is the biggest ever investment on single project in the country

He said the country was progressing well when it was producing hydro power until it started banking on imported fuel which not only made the local industry non-competitive, but also put additional burden on foreign reserves.

On the occasion, the Prime Minister told the Prime Minister of Azad Jammu and Kashmir Raja Farooq Haider Khan that the project would also create much-needed jobs for youth both during the construction as well as the operations.

PM Imran Khan said that Pakistan welcomes the investment as it could also set a trend to further move towards clean energy for reducing dependence on imported fuel.