China’s EXIM Bank to provide USD 700 million loans – Alfalah Securities Limited

Karachi, July 17, 2012 (PPI-OT): EXIM Bank of China has agreed to lend USD 700 million at comparatively low interest rate for dams’ projects (Darawat Dam, Nagj Gaj Dam and Naulogn Dam) which would be executed by Water and Power Development Authority (WAPDA) to enhance water storage capacity and generate more power.

In this regard, Gomal Zam Dam is scheduled to be completed by February 2013 with an estimated cost of PKR 12.829 billion which is designed to generate 17.4 MW electricity and water storage capacity of 0.892 million acre feet (MAF). Likewise, Satpara Dam has been almost completed that is designed to generate 17.36 MW power and store 0.053 MAF water. Survey work of Khurram Tungi Dam has been started and tendering is in the process. Khurram Tungi Dam on completion would generate 83.4 MW power with a storage capacity of 0.90 MAF water. Overall, WAPDA is executing 6 major projects worth PKR 43.946 billion with an accumulated water storage capacity of 2.507 MAF and power generation of 127.36 MW. The completion of these projects would help partially lower the power shortage which is currently at 2500 MW or rises even higher.