ISLAMABAD: Prime Minister Imran Khan has said that 2.4 billion dollars agreement signed for 1,124 megawatt Kohala Hydropower Project is the biggest ever investment on single project in the country.
Addressing the signing ceremony of the tripartite agreement in Islamabad, he termed the agreement a great step towards bringing foreign investment in the country.
The Prime Minister said the country was progressing well when it was producing hydro power until it started banking on imported fuel which not only made the local industry non-competitive, but also put additional burden on foreign reserves.
Imran Khan said Pakistan welcomes the investment as it could also set a trend to further move towards clean energy for reducing dependence on imported fuel.
On the occasion, the Prime Minister told the Prime Minister of Azad Jammu and Kashmir Raja Farooq Haider Khan that the project would also create much-needed jobs for youth both during the construction as well as the operations.
It will be the largest power sector investment of 2.4 billion dollars in one independent power plant.