PESHAWAR: The Khyber Pakhtunkhwa government will issue a 30-year operational licence to a Chinese company for executing power projects in the province.

The survey team of the company would start its work from Shoghore, Chitral soon after receiving no objection certificate (NOC), said a handout. It added that after collecting statistics of the flow of water in all four seasons of the year in the area the company would start construction of the power house from next year.

In this connection a meeting was held here on Sunday that was attended by Adviser to Chief Minister Rafaqatullah Babar and representatives of Chinese hydel power company Zhongnan Engineering Corporation and mineral company Tuny-Pak Minerals.Expressing interest in investment in hydel power and mineral sectors of the province, the Chinese companies requested for issuance of NOC.

Mr Babar appreciated the offer and said that it was a welcoming gesture that the interest of investment in Khyber Pakhtunkhwa by neighbouring friendly country Peoples’ Republic of China was increasing.

He said that Chinese companies had made investment of billions of dollars in different sectors in the province. He assured Zhongnan Engineering Corporation of issuance of NOC for establishment of hydel power station in Shoghore area of Chitral and said that company could start work from next week.

Khyber Pakhtunkhwa, Mr Babar said, was rich in natural resources and had huge potential in hydel power and mineral sectors. “The issuance of licences has been started to different national and international companies for exploiting these potentials,” he added.

The representatives of the company told Mr Babar that their survey team would start work soon after receiving NOC for Shoghore Chitral. After collecting statistics of the flow of water in all four seasons of the year in the area, they company would start construction of power house from next year, they added.

The electricity produced from the power station, which will be completed in one and half year, will be provided to local industrial units at subsidised rates.

Mr Babar said that under one-window operation of the provincial government, the Investment Promotion Cell would provide all necessary facilities with immediate effect to all domestic and foreign companies.

He said that for future power projects, the company would be issued a 30-year operational licence and the tariff would be fixed according to the policy evolved by the provincial government.