Pakistan receives commitment of over $1bn for NTDC projects
The World Bank (WB), Asian
Development Bank (ADB), and Islamic Development Bank (IDB) have announced their
commitment to finance three crucial projects for the National Transmission and
Despatch Company (NTDC). These projects include the Matiari-Moro-Rahim Yar Khan
Transmission Line and the Reactive Compensation Power Devices Project. This
development was discussed in a meeting chaired by Economic Affairs Division (EAD)
Secretary Dr. Kazim Niaz, attended by officials from the Power Division and
development partners.
According to Business Recorder, the
WB, ADB, and IDB have each made preliminary financing commitments for the NTDC
projects, with both WB and ADB pledging $500 million each, while IDB is
prepared to commit between $200 million and $320 million.
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The World Bank will lead the
Reactive Compensation Devices Project, with ADB and IDB serving as
co-financiers. For the transmission line project, ADB will take the lead,
supported by WB and IDB.
Additionally, discussions were held
regarding the Ghazi Brotha to Faisalabad West Transmission Line, with
development partners encouraging NTDC to consider private sector participation
alongside traditional financing options. Dr. Fakhre Alam Irfan, Secretary of
the Power Division, noted that NTDC’s Transmission System Expansion Plan (TSEP)
has been submitted to Nepra for approval, estimating an investment requirement
of $8.4 billion for ongoing and future projects.
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The IDB confirmed it is reviewing
the three proposed NTDC projects and is ready to co-finance alongside the WB
and ADB. NTDC also announced that technical and financial feasibility studies
for the Matiari-Moro-Rahim Yar Khan transmission line, conducted by NESPAK, are
expected to be completed by the end of the month.
Source: Profit Pakistan