The Korea Hydro & Nuclear Power Corporation announced on October 5 that it won the contract for the construction of a hydroelectric power station in Athmuqam, Pakistan. The value of the contract is US$530 million.
The purpose of the contract is to build and run a power plant with a capacity of 350 MW in the middle of the Neelum River, 210 kilometers northeast from Islamabad. For reference, South Korea’s amount of hydroelectric power generation totals 1,800 MW a year.
The order is to be placed by the Private Power & Infrastructure Board, the organization in the Pakistani government that is in charge of local infrastructure development projects. It published a public notice for the project in January this year and the Korea Hydro & Nuclear Power Corporation submitted its expression of intent in March after forming a consortium with Daelim Industrial and Lotte Engineering & Construction.
According to the contract, the consortium is to run the power plant for 30 years and then transfer its rights to the Pakistani government on a build-operate-transfer (BOT) basis. The corporation is expecting that this contract will lead to a successful result with regard to the 496-megawatt Lower Spat Gah hydropower generation project to be launched by the Pakistani government as a private-public project.