PESHAWAR: The Khyber Pakhtunkhwa (KP) government has signed Tuesday the Balakot Hydropower Development Project in collaboration with the Asian Development Bank (ADB) that would cost about US $750 million and complete in six years for the generation of 300 Megawatt power, ARY News reported.
The project, once completed, is set to rake in Rs14 billion annually for the provincial kitty، said a source inside the KP government department overseeing the agreement.
Of the total cost the hydropower project is set to incur, US $580 million will be borrowed by ADB while the rest US$170 million will be taken care of by KP government itself, the source confimed.
Planned on the swathe of Kunhar River in Balakot, the hydropower project will likely earn the government Rs80 billion with the generation of 300-megawatt electricity.
READ: Tourist spots in KP reopened for public under strict SOPs
Separately today in the province, KP government spokesperson Kamran Bangash on Monday said that tourist spots in the province have been reopened for the public.
Bangash, while welcoming the tourists to the province, urged them to ensure cleanness while their visits.
He also appealed to them to stick to the standard operating procedures (SOPs) designed by the National Command and Operation Centre (NCOC) to contain the spread of the COVID-19.
