German development bank Kreditanstalt fur Wiederaufbau (KfW) has issued a No Objection Certificate to Pakistan’s Water and Power Development Authority, allowing WAPDA to award civil works contracts for its 122-MW Keyal Khwar hydropower project.
WAPDA said the contract will be given to a group led by China’s Sinohydro Corporation, which will construct Keyal Khwar on a tributary of the Indus River in Pakistan’s Dasu district.
The project is expected to be completed in four years.
HydroWorld.com reported this past May that KfW had agreed to provide US$125.4 million for construction of the $242.6 million project.
KfW also announced this week that it will help broker a deal funding Pakistan’s 35-MW Harpo hydropower plant.
For more news from Asia, visit here.