In addition, a subsidiary loan agreement was signed between Economic Affairs Division on behalf of the Government of Pakistan and Neelum Jhelum Hydropower Project Company, a subsidiary of Water & Power Development Authority.
On completion, the power project will generate about 1,000MW of electricity, reports onlinenews.com.
The project aims at developing indigenous renewable energy resources to meet the increasing electricity demand in the country.
The project will also receive funds from the Exim Bank China, UAE and Saudi Fund for Development.
