Officials in the department told APP that during the recently held roadshow in Beijing from April 17-19, the provincial government had presented plans for building seven hydropower projects with a total capacity of 1,978MW as part of the China-Pakistan Economic Corridor (CPEC).
Subsequently, Memorandums of Understanding (MoUs) had been signed with different Chinese companies to build these projects.
Among these seven projects, feasibility studies for five projects had been completed and are ready for execution. The cost-benefit analysis for the remaining two projects is expected to be completed soon.
The projects are expected to cost $6.92 billion and would be constructed in Chitral.
Even though the MoUs have been signed, it is yet to be decided what part of the cost would be borne by the K-P government and how much would the Chinese companies pay. These details are expected to be finalised when proper agreements for the projects are signed.
The official claimed that around 900 Chinese companies had participated in the road show and 82 MoUs had been inked for 86 prepared projects in different sectors. He added that one Chinese company had agreed to installing solar panels to power 10,000 schools and 400 hospitals in K-P.
To gain a better understanding of the technicalities, a delegation of Chinese investors is expected to visit K-P in July this year.