ISLAMABAD: Three local and international firms on Tuesday submitted technical bids for financing, engineering and construction of a 100 megawatts Kotli Hydropower Project in Azad Kashmir with an estimated cost of $169 million.

The bidding overseen by Minister for Water and Power Khawaja Mohammad Asif was organised by the Private Power and Infrastructure Board (PPIB).

One of the investors S M Gardezi complained at the outset that while his company was bidding for the Kotli Hydropower Project, another hydropower project of 7MW being pursued for 12 years was facing hitches because of ‘strange attitude of the Central Power Purchase Agency (CPPA)’ despite repeated decisions at various forums including a few by the minister for water and power.

The minister promised to look into the matter and said the government was focussing on development of hydropower resources to achieve long-term vision of the power sector and to overcome its challenges.

The opening of proposals for 100MW Kotli hydropower project, he said, was one of the examples of the government’s interest in improving the hydro-thermal mix in the country.

Mr Asif further said the project will not only add clean-affordable and reliable electricity to the national grid but also provide employment in the area.

“We are optimistic, with the support and cooperation of investors, and the commitment of the government, we will overcome the power crisis in shortest possible time,” he said.

The proposals were invited from prospective investors for development, financing and construction of 100MW Kotli Hydropower Project in private sector through national and international print media in December 2013. Initially five companies of China, Thailand and Pakistan origin showed their interest and finally three companies submitted firm proposals.

The companies who submitted their proposals include CWE Investment Corporation, China (a subsidiary of Three Gorges Dam), Ratchaburi Electricity Generating Holding PCL, Thailand and Sachal Engineering Works (Pvt) Ltd, Pakistan.

These proposals were opened by the committee constituted to oversee the development process of the project in the presence of bidding companies representatives.

The committee headed by the PPIB managing director has members from government of AJK, Azad Jammu and Kashmir Council, Ministry of Water and Power, National Transmission and Dispatch Company and PPIB.

The proposals will be evaluated within a month on the technical and financial credentials of the applicants. The pre-qualified applicants will be issued requests for proposals (RFP) documents for preparing their bids for next stage.

The project will be developed on Built-own-operate-Transfer basis and will be handed over to AJK government after thirty years.