ISLAMABAD: Government of Pakistan and Asian Development Bank (ADB) signed loan and project agreements amounting $260 million for the Second Power Transmission Enhancement Investment Programme (Tranche-II) here on Tuesday.
Economic Affairs Division (EAD) Secretary Syed Ghazanfar Abbas Jilani signed the agreement with ADB Country Director Xiaohong Yang. The ceremony was also attended by ADB Central and West Asian Department (CWRD) Director General Werner E Liepach.
Under the Second Power Transmission Enhancement Investment Programme (Multitranche Financing Facility), ADB will provide $810 million, in total, over a period of 10-years. It shall support the evacuation of new generation, including that from renewables, improvement of system reliability and power supply quality through reinforcement and improved monitoring and control.
It shall also help improve the financial management, regulatory relations, planning, project management and procurement capacities of National Transmission and Despatch Company Limited (NTDC), and the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G). These investments will increase institutional efficiency, cost recovery, competition, transparency and good governance within the power sector.
Tranche 2 of the Second Power Transmission Enhancement Investment Programme shall be used for financing 220kV Mirpur Khas substation with the associated transmission, DI Khan-Zhob 220kV transmission line with Zhob substation, construction of new 220kV Guddu-Shikarpur-Uch-Sibbi transmission line, Supervisory Control and Data Acquisition (SCADA) system and revenue metering system.