KSA Approves PKR 37.4 Bn for Construction of Mohmand Dam
According to news reports, the Kingdom of Saudi Arabia (KSA) has granted PKR 37.4 billion for the construction of the 800MW Mohmand Dam in Islamabad.
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Nawaf bin Saeed Al-Malkiy, the SAUDI ambassador to Pakistan, announced that the Saudi Fund for Development (SFD) is accessible at a 2% interest rate with a 25-year return period. In order to strengthen trade ties, the Saudi ambassador promised Pakistan assistance on all fronts.
The Water and Power Development Authority is constructing the dam on the Swat River in Mohmand district, Khyber Pakhtunkhwa, at the moment (WAPDA). The previously mentioned project will irrigate 16,000 acres of land and promote agriculture in the region.
The project was approved in March 2019 with a budget of $2.2 billion, and the foundation was poured in May 2019. The scheduled date of commissioning is July 2024.
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In addition, Minister of Economic Affairs Omar Ayub noted that the dam will improve the energy security and hydroelectric potential of the region. Mr. Ayub told the reporters that the administration is concentrating on the production of environmentally friendly and cost-effective electricity.
The Mohmand dam is anticipated to solve the flooding issue in the regions of Charsadda, Naushera, and Peshawar.
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