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30 March 2017

Karot hydropower project achieves financial close, Pakistan

The Karot hydropower project, located on the Jhelum River in both the Punjab region of Pakistan and the country’s self-governing Azad Kashmir division, has successfully achieved financial close. Mott MacDonald is lenders’ technical, environmental and social advisor on the scheme.

Karot is part of the China-Pakistan Economic Corridor initiative and is the first hydropower project being developed in Pakistan by China Three Gorges, making it a strategic project for both the company and the region. The 720MW scheme forms part of a five-project cascade that will help manage the vital water resource of the Jhelum River and provide much needed generation capacity to the country. The project includes the construction of a 95m 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.

In the run-up to financial close, Mott MacDonald provided technical support and strategic analysis to the project’s financiers. This included reviewing the scheme’s design, change orders and variations and disbursement applications. The consultancy also assisted with the implementation of environmental and social management plans and advised on compliance with relevant standards and regulatory requirements. Following financial close, Mott MacDonald will now perform construction monitoring services covering technical, environmental and social matters.

Brian Minhinick, Mott MacDonald’s project director, said: “We are proud to be supporting this milestone project, continuing our leading role in developing Pakistan’s hydropower resource. Once complete, Karot will play a key role in helping address the shortfall in generation capacity by creating a long-term, sustainable power supply.”

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