Saudi Fund increases financing for Pakistan's Golen Gol hydropower plant

Pakistan Map

The Saudi Fund for Development has announced its plan to provide another US$57 million for the 106-MW Golen Gol hydropower project being developed by Pakistan's Water and Power Development Authority.

The Saudi Fund previously provided $40 million for civil works at the Golen Gol construction site, which is located in the Chitral District in Pakistan's Khyber Pakhtunkhwa Province.

WAPDA said a formal agreement for the newest funds will be signed next month, at which point they will be used to further construction of the project's civil works.

The agency said the civil works are about 50% complete and are expected to be finished by August 2015.

The Golen Gol project is also being funded by the Kuwait Fund for Arab Economic Development (KFD) and Organization of the Petroleum Exporting Countries (OPEC).

For more new development news, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs