Chinese consortium wins EPC contract for $1.984bln hydropower project

KARACHI: The consortium of Yangtze Three Gorges Technology & Economy Development Co and China Machinery Engineering Corporation has won the EPC contract for the $1.984 billion 720MW hydropower project, being setup in Rawalpindi, a document said.
Karot Power Company Limited (KPCL) invited tenders for the EPC of the Karot hydropower project. Yangtze Three Gorges Technology & Economy Development Co, Ltd — China Machinery Engineering Corporation Consortium (TGDC–CMEC); China Gezhouba Group Company Limited; Power Construction Corporation of China - Dongfang Electric Corporation Consortium submitted their bids.
The Consortium of Yangtze TGDC and CMEC were declared as the first preferable tender who entered contract negotiations and KPCL awarded EPCs contract to TGDC — CMEC Consortium.
The total project cost is estimated at $1.984 billion, while EPC cost is $1.277 billion.
The 720MW Karot hydropower project is located on River Jhelum just upstream of the Knot Bridge in Punjab.
Pakistan has been facing severe power shortage for the last few years and hydropower is the best solution. Hydro is the cheapest form for energy with little environmental impacts.
The country has been endowed with immense potential of hydropower resources.
The total hydroelectric potential in the country is estimated to be 60,000MW, of which 24,500MW lies in the Khyber-Pakhtunkhwa, 22,000MW in Gilgit-Baltistan, 6,500MW in Azad Jammu Kashmir and 7,000MW in Punjab.
Around 89 percent of the abovementioned hydropower potential is still untapped and yet to be harnessed, according to the document.
It is the need of the hour to tap these resources in order to cope with the severe power shortage in the country.