PESHAWAR   -   The Khyber Pakhtunkhwa govern­ment will start work on the Balakot hydro power project with a produc­tion capacity of 300MW with the fi­nancial assistance of the Asian De­velopment Bank in district Mansehra, this year.

The project will cost $722 million out of which 80 per cent will be paid by Asian Development Bank and pro­vincial government will bear rest of the cost.

This power project will be com­pleted within seven years of stipu­lated time. The provincial govern­ment will generate revenue of Rs33 million annually after the comple­tion of the project.

This was disclosed by Secretary Energy and Power Department Sar­fraz Durrani in an overview meet­ing held under his chairmanship regarding the project. Asian Devel­opment Bank Energy Expert Adnan Tareen, Nail Valiyev, Rafayil Abbas­ov, Additional Secretary Energy Ift­ikhar Marwat, Chief Planning Officer ZainUllah Shah and others attend­ed the meeting. It was decided in the meeting that consultant and project director for the project will be ap­pointed soon in order to complete the project on time.