A long-standing issue involving the 135-megawatt Taunsa Hydropower Project in Punjab has been resolved after remaining pending for nearly a decade.

The matter involved reimbursement of the cost of the project’s feasibility study. China Three Gorges South Asia Investment Ltd. (CSAIL) welcomed the resolution and thanked the government for helping settle the issue.

In a letter, CSAIL appreciated the coordination between federal and provincial authorities, saying it helped move the matter forward after years of delays.

The company said the resolution allows the relevant decisions of the Government of Punjab to be implemented and removes an important hurdle affecting the project.

CSAIL also said the development showed that long-pending investment-related matters can be resolved through better coordination between government institutions.

The company said the outcome would help improve investor confidence and further strengthen Pakistan’s investment ties with China.