PEDO, ADB sign agreement on financing

PESHAWAR: The Pakhtunkhwa Energy Development Organisation (PEDO) to enter into an agreement with the Asian Development Bank (ADB) for financing 300MW hydropower project construction at a cost of US$ 645 million on River Kunhar near Balakot Mansehra.

The project will also add over Rs8 billion per annum cash to the resources of the Province. The investment on the project is promising more than 17 per cent return per year. PC-1 of the project had already been prepared which will be approved from the Provincial Development Party this weak and sent to the Central Development Working Party i.e. the Federal Government. The ADB had already arranged funds for its financing, thus will have no problem for its timely release. The Project is to be completed within 60 months.

Published in Business Recorder, 24th April, 2018