Khyber Pakhtunkhwa government has signed a Memorandum of Understanding (MoU) with a Korean company for building 197-MW Kalam-Asrit Hydropower Project.

Korea South-East Power Company (KOEN) which is controlled by their government had already agreed for the Kalam-Asrit Hydropower Project which, KP Chief Minister Pervaiz Khattak said, would cost US$500 million. The province is expecting to earn annual revenue of Rs.35 million.

Pakhtunkhwa Energy Development Organization (Pedo) Chief Executive Officer Syed Zianullah Shah said  Kalam-Asrit Hydropower Project was a run of river scheme to be built on Swat River.

It is located on the Swat River, near Kalam village 405 Km from Islamabad. The weir is suggested to be located at the village of Kalam about a kilometer downstream from of the confluence of Gabral River and Ushu River.The proposed head race tunnel will run on the right side of Swat valley, parallel to the Swat River; straight down to the village Asrit.

KP has signed several agreements for over 2200 MW hydropower projects in the province. It has completed 50 small hydro projects so far and works on other 50 projects is underway.