China Gezhouba Group and its local partner Laraib Group Pakistan are the shareholders of the ‘Azad Pattan Hydropower Project’.
The government in Pakistan-occupied-Kashmir has signed agreements with a Chinese company and a local renewable energy firm for the construction of 700MW hydropower project at an estimated cost of $1.35 billion in the region as part of the ambitious China-Pakistan Economic Corridor, a media report said on Wednesday.
China Gezhouba Group and its local partner Laraib Group Pakistan are the shareholders of the ‘Azad Pattan Hydropower Project’, which is located on Jhelum river in Sadhanoti district of PoK, Dawn newspaper reported.
The consortium of lenders consists of China Development Bank, China Construction Bank, Industrial and Commercial Bank of China and Bank of China, the paper said.
The implementation agreement and water use charges agreement for construction of the project were signed by PoK Electricity Secretary Zafar Mahmood Khan and Azad…