OPEC Approves US$50mn Loan For 969MW Hydroplant

News: The OPEC Fund for International Development has approved a loan of US$50mn for Pakistan's 969MW Neelum-Jhelum hydropower plant. A loan agreement has also been signed by the Saudi Arabian government for the project, which has also received cash infusions by issuing term finance certificates. The project, developed by the Pakistan Water and Power Development Authority, will have an installed capacity of about 1GW. The plant is expected to generate power by end 2015.

OPEC Approves US$50mn Loan For 969MW Hydroplant

News: The OPEC Fund for International Development has approved a loan of US$50mn for Pakistan's 969MW Neelum-Jhelum hydropower plant. A loan agreement has also been signed by the Saudi Arabian government for the project, which has also received cash infusions by issuing term finance certificates. The project, developed by the Pakistan Water and Power Development Authority, will have an installed capacity of about 1GW. The plant is expected to generate power by end 2015.

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