June 14, 2023 (MLN): Pakistan and France have signed the Credit Facility Agreement as per which France will provide €180 million to finance the National Transmission and Despatch Company (NTDC) Transmission Lines and Grid stations projects located in Vehari, Aarifwala, and Sialkot, said a press release issued by the Ministry on Wednesday.
This loan will support the NTDC in its transmission mandate to provide reliable and efficient power supply in major cities of Punjab. The funding will also help enhance the transmission of efficient power distribution in Pakistan. Such benefits will contribute to improving affordability and scaling up the energy supply.
Since most of the power generation in Pakistan is through hydel sources, hence the projects will help mitigate the impacts of climate change through the transmission of green energy, in line with the policies of the Government of Pakistan and its commitment to fight climate change, it added.
It is also part of the pledge and commitments announced by France at the International Conference on Climate Resilient Pakistan in Geneva on January 9, 2023.
The Republic of France, through the French Development Agency, is providing technical and financial support in several sectors such as energy, water and sanitation, urban development, and cultural heritage.
The French loan will support NTDC in the components of the projects including the Construction of a new 220kV substation and 50km of new 220kV transmission lines to be connected to it in Aarifwala, which will be connected to the MEPCO grid. In Vehari, the existing 220kV substation will be upgraded to 500kV level, and 48km of new 500kV transmission lines connected to it.
The enhanced capacity of the substation will add to the MEPCO grid. In Sialkot, the construction of a new 500kV substation and 55km transmission lines connection will take place with the help of this project. The new substation will be connected to the GEPCO grid.
Dr. Kazim Niaz, the Federal Secretary, the Ministry of Economic Affairs (MoEA), H.E. Mr. Nicolas Galey, Ambassador of France, and Mr. Philippe Steinmetz, Country Director of the French Development Agency (AFD), signed the Credit Facility Agreement.
Copyright Mettis Link News
Posted on: 2023-06-14T13:14:52+05:00
