Financing documents execution of 147MW Patrind hydropower project signed

Islamabad: The signing for execution of financing documents of 147MW Patrind hydropower project to be completed at cost of $400 million by year 2015 at border line between Khyber Pakhtunkhwa and Azad Jammu & Kashmir was held on Tuesday. Equity in the project is being injected by three public and private sector South Korean companies. Financing is being provided by Export-Import Bank of Korea‚ Asian Development Bank, International Finance Corporation & Islamic Development Bank.

The 147MW Patrind hydropower project represents 100 percent foreign direct investment in the country. After 30 years of concession period it will be handed over to Pakistan.

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