China Three Gorges has achieved financial close on its Karot hydropower project in Pakistan.
China Three Gorges has successfully achieved financial close on its Karot hydropower project in Pakistan.
The 720 MW scheme is located on the Jhelum River in both the Punjab region of Pakistan and the country's self-governing Azad Kashmir division and is part of the China-Pakistan Economic Corridor initiative.
It is the first project to be developed in Pakistan by China Three Gorges, according to Mott MacDonald, which acted as lenders’ technical, environmental and social advisor for the scheme.
Karot will form part of a five-project cascade that will help manage the water resources of the Jhelum River and provide much needed generation capacity to the country. The project includes the construction of a 95 m high dam, four headrace tunnels and a new public bridge across the river, as well as a substantial spillway structure to manage flood flows.
Construction of the Karot scheme is due to be completed in 2021.
“Once complete, Karot will play a key role in helping address the shortfall in generation capacity by creating a long-term, sustainable power supply,” said Brian Minhinick, Mott MacDonald's project director.