Skip to content Skip to Search
Skip navigation

Saudi fund to invest $101m in Pakistan’s green projects

By Pramod Kumar
SFD CEO Sultan Abdulrahman Al-Marshad and Pakistan's ministry of economic affairs secretary Dr Kazim Niaz at the agreement signing ceremony SPA
SFD CEO Sultan Abdulrahman Al-Marshad and Pakistan's ministry of economic affairs secretary Dr Kazim Niaz at the agreement signing ceremony

The Saudi Fund for Development (SFD) will provide $101 million in soft loans to support Pakistan’s green energy projects.

The first agreement is for an investment of $66 million to construct the 48 megawatts (MW) Shounter Hydropower station, which will be connected to Pakistan’s national electricity grid, the state-run Saudi Press Agency reported.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

The project involves dam construction, water diversion, purification structures, excavation of the main water transport tunnel, powerhouse and discharge tunnel construction and transmission line supply.

The second loan agreement of $35 million will help establish the Jagran-IV Hydropower project, which has a capacity of 22 MW.

The project entails the construction of a dam, powerhouse, water diversion, and purification building, as well as providing generators, transformers, necessary equipment and transmission lines.

Since 1976, the SFD has supported 41 development projects and programmes in Pakistan through soft loans and grants worth more than $1.4 billion.

Latest articles

illegal pilgrims Mecca Saudi Arabia

Illegal Hajj pilgrims risk fines and deportation

Fines for Saudi nationals and deportation for foreign residents taking part in the Hajj pilgrimage without a permit have been announced by the country’s interior ministry. Those who help illegal pilgrims also face jail as the kingdom tries to impose stricter controls over the annual rites.  A fine of SAR10,000 ($2,700) will be issued against […]

Accessories, Formal Wear, Tie

EU looks for alternatives as trade talks with GCC stall

The European Union is actively seeking alternative “avenues” for economic cooperation with the GCC following a deadlock in free trade agreement talks, said Johannes Hahn, the EU commissioner for budget and administration. “We would be interested, of course, to get an agreement [with the GCC], but we have not made a lot of progress,” Hahn […]

A view of the 'command centre' at Adnoc headquarters. Adnoc L&S serves more than 100 customers worldwide, including Adnoc

Adnoc Logistics & Services first-quarter profit up 34%

Adnoc Logistics and Services – a subsidiary of Abu Dhabi National Oil Company – reported a 34 percent year-on-year increase in net profit to $194 million (AED712 million) in the first quarter of the year. Its revenue rose 42 percent year on year to $840 million in Q1, while EBITDA increased 44 percent to $286 […]

Emaar China Palace Hotel Downtown Dubai

Emaar Hotels reveals wide expansion plans

Emaar Hospitality Group is talking to investors in Europe, the Middle East and China to expand its footprint regionally and internationally. The Dubai-based company is behind iconic names such as The Address Hotels & Resorts, Vida Hotels, Palace Hotels & Resorts and Armani Hotels & Resorts. Mark Kirby, Emaar Hospitality’s CEO, told AGBI the company […]