ADB approves $250m for power transmission network
Karachi: Asian Development Bank (ADB) has approved $ 250 million in loans to improve and expand power transmission network in Punjab and Khyber Pakhtunkhwa provinces, read a statement released.
ADB said that its Power Transmission Strengthening Project will help reinforce stability of national grid by increasing its transmission capacity. As per multilateral institution, project will expand high-voltage transmission network to close 500 kilovolt (kV) and 220 kV transmission lines loops and reduce transmission losses in Punjab's Lahore city by replacing old transmission lines.
"Reliable power supply is essential to inclusive, sustainable economic growth and it will also provide economic opportunities to rural communities," said ADB Director General for Central and West Asia Yevgeniy Zhukov.
"We are pleased to continue supporting Pakistan in its efforts to achieve energy security while improving energy efficiency." ADB said that project will complement its ongoing support to National Transmission and Despatch Company Limited aimed at ensuring energy security, climate resilience and increased transmission capacity to deploy sufficient, reliable, clean and cost-effective energy. "Improving management of national transmission system of Pakistan is another key objective," it said.
Bank said that project will also enhance project and financial management of NTDC, as well as its capacity to incorporate climate resilience in planning and operations.
Project will focus on Thatta, Sujawal and Badin districts. Conditions in these districts have been degraded by confluence of environmental factors, resulting in land subsidence, flooding, erosion and saline intrusion, ADB said.