Exciting News Alert: $25 Million Subsidiary Loan Signed for Mohmand Dam Hydropower Project
Islamabad witnessed a momentous occasion as the Ministry of Economic Affairs (MoEA) and Water and Power Development Authority (WAPDA) inked a Subsidiary Loan Agreement (SLA) worth $25 million for the Mohmand Dam Hydropower Project. Dr. Kazim Niaz of MoEA and Lt. Gen. (Retd.) Sajjad Ghani of WAPDA signed the agreement, with the presence of Kuwait’s Ambassador Nassar Abdulrahman Jasser Al. Mutairi.
The funding, a result of Kuwait Fund’s commitment to provide $100 million for the project, will be dispersed in four equal installments. The project is set to generate 2,862 GWh of electricity annually, with an 800 MW capacity, bridging the energy gap. Additionally, it will cater to irrigation needs with a 1,594 million cubic meters reservoir, offer flood control benefits, and provide drinking water supply to Peshawar city.
This endeavor marks a pivotal step towards realizing the project’s benefits in power generation, irrigation, flood control, and water supply, as highlighted by the Ministry of Economic Affairs. The Mohmand Dam Hydropower Project is set to revolutionize infrastructure development in Pakistan.