MOL, OGDCL grant Rs700m loan for bridge construction

Companies sign agreement to construct bridge on river Indus for transportation of 30,000 to 35,000 bpd of oil.

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) and MOL of Hungary have signed an agreement to grant Rs700 million loan to National Highway Authority (NHA) for the construction of new Khushal Garh Bridge on river Indus for transportation of 30,000 to 35,000 barrels per day (bpd) of crude oil by 2012-13.

The construction of the bridge will take 27 months. The loan amount will be recovered in 84 monthly installments with effect from one year after commissioning of date of the new bridge. The PC-1 of the project will be approved by ECNEC soon.

Syed Naveed Qamar, Federal Minster for Petroleum and Natural Resources, Dr Arbab Alamgir Khan, Federal Minster for Communication and Rahim Dad Khan, Senior Minster P&D were also present on the occassion.

Published in The Express Tribune, October 21^st, 2010.