Saudi approves 901 million Riyal loan for construction of Mohmand Hydropower project
Saudi approves 901M Riyal loan for Mohmand Hydropower project
Saudi Arabia has approved 901 million Saudi Riyal (Rs37.4 billion) for Mohmand Hydropower Project.
In a meeting with Federal Minister for Economic Affairs, the Ambassador of Saudi Arabia in Pakistan stated that the loan will be given at a very concessional rate of 2 percent for a span of 25 years.
“The dam will be constructed alongside Swat River in District Mohmand of Khyber Pakhtunkhwa province and it will generate 800MW of electricity, “stated an official. The dam will also irrigate 16,000 acres of land and raise agricultural productivity in the region.
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