ISLAMABAD  - Koreans have expressed their keen interest to invest in hydropower and water sector projects in Pakistan.

This was stated by Myung-Pil Shim, Minister for National Restoration, Republic of South Korea, during a meeting with Federal Minister for Water and Power Ch Ahmed Mukhtar here Monday. The meeting was also attended by Special Secretary, Additional Secretary, Joint Secretary (Water) of Ministry of Water and Power, Chairman Wapda, MD, PPIB, Chairman Federal Flood Commission and senior officials of the Ministry and Wapda.

Shim said that Korean companies were already working in different water and power sector projects and more investors were keen to invest here. Korea had expertise in the field of flood mitigation and interested to share their experience and technical know-how with Pakistan. He also discussed various issues of mutual cooperation to further enhance economic ties between the two countries. Later, a presentation on Four River Restoration Project was given by the Korean side regarding flood protection and river management. While welcoming the delegation, Minister for Water and Power appreciated the Koreans for showing their interest to invest in the power sector. He said that Pakistan had great potential in the hydropower generation.

He said Pakistan was now focusing on indigenous resources to generate cheap electricity. Work on number of hydel power and water storage projects was in progress, he added.

The Koreans were offered to invest in the Neelum Jhelum hydropower projects of 969 MW and DiamerBasha dam project of 4500 MW.The Minister assured that the government would support and facilitate the Korean investors and welcome their investment in the water and power sector projects.

Earlier, a detailed presentation was given by the Chairman Wapda on the hydel power potential, ongoing and future projects. He said that five hydel power projects of 1422 MW will be completed within three years while eight hydel projects of 21015MW were ready for implementation.