News Column

Germany to provide 20 Million Euros for Harpo Hydropower Project

January 27, 2014

The German Ministry for Economic Cooperation and Development (BMZ) through KfW Entwicklungsbank ( KfW Development Bank ) will provide 20 Million Euros for constructing 35MW Harpo Hydropower Project Skardu Gilgit-Baltistan. An Agreement in this regard was signed by the Joint Secretary Economic Affairs Division Ali Raza Bhutta, the General Manager Finance WAPDA, Najib Tariq , and the Director of KfW Office Pakistan, Dr. Anna-Christine Janke . The project is co-financed by AFD (Agence Française de Développement) France which will provide 50 Million Euros . The Harpo Hydropower Project will include first ever 132kV Transmission line of about 70km, and 3 grid stations. In addition, a proper bridge will be constructed across River Indus which will ensure better access to the main Skardu-Gilgit Road . The German Ministry for Economic Cooperation and Development (BMZ) has also committed to provide 1.5 Million Euros Grant through KfW for improving the Transmission and Distribution Management System, and capacity building of the Gilgit-Baltistan Water & Power Department . It may be added that Germany had already contributed 650,000 Euros for completion of the feasibility study for this project.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Daily Messenger (Pakistan)

Story Tools