PESHAWAR, Sept 28: Two Chinese firms, China-Beixin and Chen Qijin Roads and Bridges Company Limited and Xinjiang Beixin Road and Bridge Group Company Limited, on Saturday offered investment in Peshawar mass transit and Khyber Pakhtunkhwa expressways and hydel-power generation projects.
The offer of investment was conveyed to Adviser to Chief Minister Rafaqatullah Babar during a meeting at the Pakhtunkhwa House in Islamabad, says a handout issued here.
The joint delegation of the two firms was led by Zhang Lida during the meeting, where they were briefed about investment opportunities in the province, especially in communication and power sectors.
The visitors said their companies could begin construction of any hydel-power project costing up to $300 million anytime, while they would seriously consider investment in the proposed mass transit scheme for Peshawar and the construction of double-lane expressways from M-1 at Swabi to Chakdara in Malakand. They handed over the documents carrying necessary details to the adviser and said by coming Monday, they would finalise terms and conditions of the final agreement.
The adviser said he would take up these details with the relevant authorities to pave the way for beginning physical work on it soon.
The visitors also assured Rafaqatullah that in view of massive investment opportunities created by the current government in Khyber Pakhtunkhwa, they would also invite more investors from China, particularly Urumqi.
On the occasion, Mr Babar said while making every effort to help investors, the provincial government wanted quality work and timely execution of projects.
Visitors reciprocated that saying on one hand, they would ensure quality and on the other, they would complete the projects once taken up within the shortest possible and stipulated time.
On the occasion, they were told that they could import machinery for execution of such development schemes without paying customs duty.
A day ago, another Chinese firm, China Water and Electric Corporation, had offered to invest in the hydel power generation projects of the province.
It is worth mentioning that 76 per cent of the country’s total hydel potential (or 45,861 megawatts) of 59,796 megawatts can be harnessed in Khyber-Pakhtunkhwa and Gilgit-Baltistan.
Alone KP is generating just 3,849MW of electricity from its operational hydropower projects, while projects under implementation have the potential to generate 9,482MW.
The provincial government is carrying out work on as many as 28 such projects. Feasibility studies of 77 projects have been completed while raw sites with a potential for generating 8,930MW of electricity have also been identified.
Khyber Pakhtunkhwa Shydo has already developed a fast-track hydro development plan for 24 projects having the capacity to generate 2,156MW at an investment of Rs350 billion. The plan includes three short-term projects for 56MW electricity, eight medium-term projects for 600MW and 13 long-term projects for 1,500MW. — Bureau Report
