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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs