ISLAMABAD, Pakistan 7/9/12 (PennWell) -- Pakistan has gained financial support for its 48-MW Jaggran II hydropower project from French lenders, HydroWorld.com has learned.
An agreement signed last week by Iftikhar Ahmed Rao, of Pakistan's Economic Affairs Division, and representatives of the French Development Agency (AFD) provides for an investment of about US$83.4 million.
The Jaggran II hydroelectric facility will be a run-of-river plant built on the Neelum River, about 90 km northeast of Muzaffarabad City. It will be located downstream of the 30.4-MW Jaggran I hydropower plant, which was commissioned in 2000.
Pakistan's Hydro-Electric Board says the Jaggran II complex should be operational in 2015.
HydroWorld.com reported in May that the China EXIM Bank had approved a loan worth $448 million for Pakistan's 969-Neelum-Jhelum hydropower plant, and the country's Water and Power Development Authority recently solicited bids for civil work and equipment for the 1,410-MW Tarbela 4th Extension project.