PESHAWAR: The World Bank (WB) would finance two hydropower projects of 245 megawatt in Swat district that would generate a receipt of over 13 billion rupees for the province per annum.

These projects besides attracting foreign investment in the energy sector would also provide job opportunities to scores of people. A meeting in this regard was held here that was attended by Secretary Energy and Electricity, Syed Imtiaz Hussain Shah, Senior Energy Specialist from World Bank, Muhammad Saqib and Advisor World Bank, Masood Ahmad, Chief Executive PEDO, Engineer Naeem Khan and Chief Engineer KHRE Program, Shah Hussain.

The meeting was told that the World Bank by providing financial assistance in the energy sector of Khyber Pakhtunkhwa would start work on two hydropower projects in Swat district during the next year. The projects included 157megawatt Madain hydropower project and 88 megawatt Gabral hydropower project. The meeting was told that an agreement of USD450 million was earlier signed between the Khyber Pakhtunkhwa government and the World Band.

The projects that would be completed by 2027 would generate revenue of over PKR 13 billion for the province. The meeting was further told that the process of hiring international consultants for the projects has been completed while the work plan and strategic affairs were also being worked out.

According to the planning, work on these two projects would start in next May or June. Secretary Energy and Electricity, Syed Imtiaz Shah while appreciating the financial assistance provided by the World Bank in the energy sector, expressed the hope that the projects would attract more foreign investment for the socioeconomic uplift of the province.

Copyright Business Recorder, 2021