Islamic Development Bank to provide $60 million for Patrind hydropower project

KARACHI: The Islamic Development Bank (IDB) would extend long-term lease finance (Ijara) facility up to $60 million to Star Hydro Power Limited for the development of the Patrind hydropower project, a statement said on Wednesday.

The Korea Water Resources Corporation (K-Water), the leading water resources and hydropower provider in South Korea, is the main sponsor of the project, it said. The Daewoo Engineering and Construction Limited and Sambu Construction Company Limited are the other sponsors, as well as the EPC contractors in the project, it said.

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