BEIJING: The Export-Import Bank of China has approved a $448 million loan to fund construction of the 969 megawatt Neelum-Jhelum hydropower project in Pakistan. According to reports, the loan will help ensure the project is completed on schedule in 2016. There had been fears there may be a delay in construction if funding was not approved. Back in 2008, the Water and Power Development Authority awarded a consultancy contract for the project to a joint venture led by MWH and including local firms Nespak, ACE and NDC together with Norplan of Norway. The project involves construction of a concrete gravity diversion dam, headrace tunnel, surge chamber and underground powerhouse with four generating units.
Published in The Express Tribune, May 24th, 2012.
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