01 February 2011
The Islamic Development Bank (IDB) has signed an agreement to extend its long-term lease finance facility of up to $90 million for the development of the Uch-II combined cycle independent power plant project in the Baluchistan province of Pakistan.
International Power PLC of the UK is sponsoring the project, which will add a net generation capacity of 375 MW to the national grid under a 25-year contract with the National Transmission and Distribution Company of Pakistan, Arab News wrote.
Besides IDB, the project is also expected to receive long-term debt finance from the Asian Development Bank, International Finance Corporation and Export-Import Bank of Korea.
The Islamic Development Bank (IDB) has signed an agreement to extend its long-term lease finance facility of up to $90 million for the development of the Uch-II combined cycle independent power plant project in the Baluchistan province of Pakistan.
International Power PLC of the UK is sponsoring the project, which will add a net generation capacity of 375 MW to the national grid under a 25-year contract with the National Transmission and Distribution Company of Pakistan, Arab News wrote.
Besides IDB, the project is also expected to receive long-term debt finance from the Asian Development Bank, International Finance Corporation and Export-Import Bank of Korea.
© Iran Daily 2011
