KARACHI: The Asian Development Bank (ADB) on Tuesday provided Rs300mn to Pakistan for the development of the Balakot hydropower project.
According to the details, the government will contribute $175mn to the project while it seeks $280mn under co-financing from the Asian Infrastructure Investment Bank (AIIB).
The hydropower projects is going to be developed on the Kunhar River and will add 1,143gigawatt-hours of clean energy to the national grid. The plant is going to be developed by 2027.
Moreover, it is anticipated that the hydropower project will create 1200 employment opportunities and 40pc of these job opportunities will be allocated for the locals.
Speaking on the occasion, ADB Principal Energy Specialist Adnan Tareen was of the view that the project will utilise the hydro resources of the country and will generate energy through sustainable and environment-friendly means.
For news and blogs, visit Graana.com.
Rice, a dietary staple for millions worldwide, is a cornerstone of Pakistan’s agriculture and economy.…
ISLAMABAD: The federal government is assessing the feasibility of routing 60% of public sector imports—such…
Kali Tanki, a well-known location in Rawalpindi, has gained recognition for its strategic position, historical…
Swat, famously known as the "Switzerland of Pakistan," is a land of mesmerizing beauty. It is…
Millennials, often referred to as the “financially cautious generation,” are reshaping the investment landscape. Known…
Graanic, Pakistan's premier organic food brand, has officially launched its new restaurant at Mall of…