According to the news agency Dawn, the Xujuba Group and its local partner Larib Group Pakistan are part of the 'Azad Port Hydroelectric Project', which is located on the Jhelum River in the Saddnoti district of PoK.
Islamabad (Natural Energy News): Government in POK along with a Chinese corporation and a regional renewable energy association plans to develop a hydropower project with a capacity of 700MW with an approximate expense of US $ 1.35 billion in the region as part of the ambitious China-Pakistan Economic Corridor The agreement is signed.
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The newspaper Dawn newspaper reported that the China Geozhba Group and its local partner Larib Group Pakistan are shareholders of the 'Azad Port Hydropower Project', located on the Jhelum River in the Instrument District of PoK.
The papers stated that the consortium of lenders consists of China Development Bank, China Construction Bank, Industrial and Commercial Bank of China and Bank of China.
The newspaper said that the implementation agreement and water use fee agreement for the construction of the project was signed on Tuesday by PoK Electricity Secretary Zafar Mahmood Khan and Azad Pattan Power Private Limited CEO Lee Xiaota.
The CPEC, which attaches Gwadar Port in Balochistan with China's Xinjiang Province, is the flagship project of Chinese President Xi Jinping's ambitious Belt and Road Initiative (BRI). Originally valued at US $ 46 billion, CPEC projects amounted to US $ 62 billion by 2017.
India has opposed China over CPEC because it is being put through PoK.
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Earlier this year, the Foreign Ministry said "Pakistan was notified that the whole Jammu and Kashmir and Ladakh, involving the regions of Gilgit and Baltistan, are essential portions of India and Islamabad should instantly evacuate the regions under its illegal occupation.
The implementation agreement of Pakistan, the Punjab Water Use Agreement and the tripartite power purchase agreements of the project were signed in the presence of Prime Minister Imran Khan in July. The signing of Tuesday's agreement will lead to the achievement of the financial close of the project.
According to government officials, there is no fuel import involved in this project and it will enable the country to move towards cheaper and greener electricity generation.
The project is expected to generate 3,000 jobs. It is expected to provide around 3,266 GW of electricity per year to the national grid by 2027.
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