PESHAWAR, JUN 06 (DNA) – A South Korean company will build a 545-megawatt hydropower project at an estimated cost of $1.42 billion at Kandia valley in Kohistan to provide inexpensive electricity to consumers.

The Khyber-Pakhtunkhwa (K-P) government has engaged South Korean Engineering and Construction Company (SK-E&C) to complete the project. The decision was taken at a high-level meeting presided over by K-P Chief Minister Pervez Khattak.

Engineering Cooperation Director Babar Mehmood, K-P Education Minister Muhammad Atif Khan, MNA Sajida Zulfiqar Khan and other officials were present at the meeting, said a spokesman for K-P the government.

Nam and Hwans briefed the participants about the company, its quality of work, its experience in the field and the provincial government engagement with the company reflected its terms of reference and terms of engagement with the company.

The CM directed government officials to extend all possible help to Kaiga Hydro project in the entire process from execution to completion.

He assured that the provincial government would extend all possible help to facilitate foreign investors in the province.

CM Khattak assured that the government would resolve the land acquisition issue and would also provide security to the investors and their investment. The project was being executed through Public Private Partnership (PPP) and its feasibility had been completed.

The project is different in terms of its execution as it would be carried out under PPP and it is also part of the provincial government mission to tap all the sites for maximum electricity production. The design of the project would be completed in July while the execution would start right from the beginning of New Year.