China is racing to finish one of the biggest hydro-power projects in Pakistan ahead of schedule, yet its location in the long-contested region of Kashmir will draw ire from India.
Construction on the 720-megawatt Karot power station being built on Jhelum river began in December 2016 and looks set to finish nine months ahead of its December 2021 completion date, a first for a Pakistan hydro-project said Qin Guobin, chief executive officer of the state-owned China Three Gorges Corp. South Asia Investment Ltd. The company has put in place an aggressive strategy to cut the project’s financing costs.
“For us, Pakistan is a strategic market,” Qin said at the site. “If we managed to complete it earlier we can save financing costs and make it more competitive.” Read More…
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