Water and Power Development Authority has announced necessary facilitation and security arrangements for the intending contractors for the development of 665 MW Palas Valley hydropower project in Khyber Pakhtunkhwa under the public private partnership.

The Hydro Planning Organisation of the Water and Power Development Authority seeks a contractor for the USD 763 million projects located on the left bank tributary of the River Indus. The suggested equity debt ratio for the project would be 20:80%. The government of Pakistan, Khyber Pakhtunkhwa and WAPDA would provide up to 20% of the equity in the partnership.

WAPDA has invited interested parties and consortia to submit expressions of interest to participate in the development of the project as equity partner for the remaining 80% of equity and for arrangement of loan cost of the project through debt financing for local, as well as foreign finance requirement. The project would be implemented under the Policy for Power Generation Projects 2002 and would revert to the government after the concession period.

The sources said that the feasibility of the project had been prepared, while detailed design and funding arrangements would take sometime. If it faces no obstacles and political opposition, the project would take around 6 years for completion from the initiation of the construction work.

(Sourced from www.thenews.com.pk)