Mott MacDonald is lenders engineer on first private hydroelectric project to reach financial close in Pakistan

United Kingdom-based management, engineering and development firm Mott MacDonald will continue to monitor construction of Pakistan's 84-MW New Bong Escape hydro project, the first private hydropower development in Pakistan to reach financial close, Mott MacDonald reported.

Mott MacDonald was appointed as lender’s engineer for a consortium of lenders (Asian Development Bank, Habib Bank Limited, Islamic Development Bank, National Bank of Pakistan, International Finance Corporation and Proparco) on the New Bong Escape Hydroelectric Project in 2005. The project was Pakistan's first private hydroelectric project to reach financial close (December 2009), Mott MacDonald reported.

Mott MacDonald will continue to monitor construction of the project on behalf of the lenders until the project's anticipated completion date in 2013, the firm reported.

Mott MacDonald is a global management, engineering and development consultancy with more than 14,000 staff and work in 140 countries for the public and private sectors.

The 84-MW Pakistan hydroelectric project, sponsored by Laraib Energy Limited, is worth around US$200 million and will help meet Pakistan’s growing demand for electricity, Mott MacDonald reported.

Mott MacDonald’s project director, Jeff Kerr, said: “It’s exciting to be involved in the first private hydroelectric project in Pakistan to complete financial close. Mott MacDonald is a leader in providing due diligence on the technical, financial and environmental aspects of major projects around the world, and it has been a great opportunity for us to help the lenders and Laraib Energy reach financial close with this important power project for Pakistan.”

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