The Export-Import Bank of China has approved a US$448M loan to fund construction of the 969MW Neelum-Jhelum hydropower project in Pakistan.
According to newswire reports, the loan will help ensure the project is completed to schedule in 2016, after fears there may be a delay in construction if funding was not approved.
Back in 2008, project developer the Water and Power Development Authority (WAPDA) 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. TBM’s are being put to use on the build.
China approves loan for Neelum-Jhelum project
