Pakistan: ADB proposes $65m loan for Gulpur Hydropower Project

Asian Development Bank (ADB) has proposed $65 million loan for the 100 megawatt (MW) Gulpur Hydropower Project, which was being implemented on Build-Own-Operate-Transfer (Boot) basis in Kotli district Azad Kashmir. ADB has updated on its website the investment committee of ADB would approve the project’s financial assistance in the meeting scheduled to be held on November 2, 2016. The proposed $65 million financial assistance for the project is London Interbank Offered Rates (Libor) based loan under Private Sector Development, however, with the Project Data Sheet is a work in progress, proposed project is tentative and indicative, it added. According to the main sponsor of the project, a South Korean consortium Mira Power Limited, the construction period for the project is 4 years and energy generation from the project is expected by the year 2018. The project involves construction and operation of a 102 MW run-of-the-river hydroelectric power generation facility on Poonch River some 28 kilometers (km) upstream from Mangla Pakistan’s second largest water storage reservoir, according to dailytimes.com