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Star Hydro Power's Pakistani project receives cash injection

ISLAMABAD, Pakistan 12/20/11 (PennWell) -- Star Hydro Power Limited has been awarded a loan worth US$60 by the International Finance Corporation (IFC) for construction of the 147-MW Patrind hydropower plant in Pakistan.

The $409 million run-of-river project will be the largest privately financed hydroelectric facility in the country when it is completed in 2016, according to an IFC release.

Other investors include the Islamic Development Bank, the Export-Import Bank of Korea and the Asian Development Bank.

ADB previously announced a pledge of $97 million to the project in October 2011.

The project will be located between the Kunhar and Jhelum rivers near Muzaffarabad.

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