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Saudi Fund increases financing for Pakistan's Golen Gol hydropower plant

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The Saudi Fund for Development has announced its plan to provide another US$57 million for the 106-MW Golen Gol hydropower project being developed by Pakistan's Water and Power Development Authority.

The Saudi Fund previously provided $40 million for civil works at the Golen Gol construction site, which is located in the Chitral District in Pakistan's Khyber Pakhtunkhwa Province.

WAPDA said a formal agreement for the newest funds will be signed next month, at which point they will be used to further construction of the project's civil works.

The agency said the civil works are about 50% complete and are expected to be finished by August 2015.

The Golen Gol project is also being funded by the Kuwait Fund for Arab Economic Development (KFD) and Organization of the Petroleum Exporting Countries (OPEC).

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