A Chinese company on Monday signed a $1.5 billion agreement with Pakistan to set up a hydropower project in Pakistan-occupied Kashmir (PoK) under the China-Pakistan Economic Corridor (CPEC) project.
Prime Minister Imran Khan witnessed the signing of the agreement with China Gezhouba for the “Azad Pattan Hydropower Project” at a ceremony here.
The project is located in the Sadhanoti district of PoK on the Jhelum river and is expected to be completed by 2026.
The CPEC, which connects 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 $46 billion, the CPEC projects were worth $62 billion in 2017.
