Home / Brokerage / IDB to extend USD 60 million for Patrind hydropower project – Alfalah Securities Limited

IDB to extend USD 60 million for Patrind hydropower project – Alfalah Securities Limited

Karachi: Islamic Development Bank (IDB) intends to extend long-term lease finance (Ijara) facility up to USD 60 million to Star Hydro Power Ltd.

According to Alfalah Securities Limited for the development of the Patrind hydropower project with net generation capacity of 147MW. Korea Water Resources Corporation (K-Water), the leading water resources and hydropower provider in South Korea, is the main sponsor of the project while Daewoo Engineering and Construction Ltd. and Sambu Construction Company Ltd. are the other sponsors as well as the EPC contractors in the project.

The project is expected to come online from 2016 and supply clean energy under a 30-year contract with the National Transmission and Dispatch Company (NTDC) of Pakistan.

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