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River Closure ceremony of Suki Kinari
Hydropower project was held in Kaghan, Khyber Pakhtunkhwa on 28th September
2019. The dignitaries who graced the ceremony include KP Provincial
Ministers Mr. Atif Khan, Mr. Shahram Tarakai, Mr. Taimur Saleem Jhagra, MPA
Mr. Ahmad Hussain Shah, Managing Director PPIB, Mr. Shah Jahan Mirza beside
senior officials from Chinese side, PPIB and federal as well as KP
government.
Suki Kinari is the sole energy
project being implemented by Private Power and Infrastructure Board (PPIB)
in the province of Khyber Pakhtunkhwa under China Pakistan Economic Corridor
(CPEC). The Project achieved Financial Closing on 31st December 2016 which
paved the way for initiating construction work at site.
This is also the first hydro power
project in Khyber Pakhtunkhwa Province being developed by the private sector
and so far the largest hydro IPP in Pakistan which is expected to start
injecting more than 3 billion clean, reliable and affordable units of
electricity each year to the national grid by 2022. Further, the Government
of Khyber Pakhtunkhwa will also receive a significant amount on annual basis
as water use charges, while after thirty (30) years of operations on
Build-Own-Operate-Transfer (BOOT) basis under the Power Policy 2002, the
Project will be transferred to the Government of Khyber Pakhtunkhwa at a
notional price of Rs. 1.
Suki Kinari Project is located on
River Kunhar, a tributary of River Jhelum, District Mansehra, in the eastern
part of Khyber Pakhtunkhwa between Naran and Paras towns, Khyber Pakhtunkhwa.
M/s China Gezhouba Group Company (China) and Haseeb Khan (Pvt) Ltd.
(Pakistan) are Sponsors of the Project. Suki Kinari Project is being
developed with an investment outlay of US$ 1.95 Billion through Debt Equity
ratio of 75:25%. The lenders for the Project include Export-Import Bank of
China, and Industrial and Commercial Bank of China (ICBC).
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