Saudi Arabia pledges Rs37.4b for construction of Mohmand dam
Ambassador of Saudi Arabia in Pakistan Nawaf bin Saeed Al-Malkiy and the Federal Minister for Economic Affairs Omar Ayub Khan at his office on June 9, 2021.
Saudi Arabian ambassador in Pakistan Nawaf bin Saeed Al-Malkey informed the the Pakistani official on Wednesday that is kingdom has approved 901 million Saudi Riyal(Rs37.4 billion )for Mohmand Hydropower project.
In a meeting with Federal Minister for Economic Affairs Omar Ayub Khan in Islamabad, the Saudi envoy told that this loan will be given at very low concessional rate of 2 percent for a period of 25 years.
"This dam will be constructed on Swat River in District Mohmand of Khyber -Pakhtunkhua province and generate 800MW of electricity," an official statement issued after the meeting said.
It is told that this dam will also irrigate 16,000 acres of land and boost agricultural productivity in the region.
"This dam will play a vital role in socio-economic uplift of the province."
The Saudi ambassador apprised the minister about the successful visit of Prime Minister Imran Khan to Saudi Arabia and shared its outcomes.
MashaAllah. May all the dams be completed on time.
ReplyDelete