€43.76m financing signed for 500kV grid installation.
Grid stations will contribute to the improvement of electricity supply in the areas surrounding Chakwal district.
The National Transmission and Despatch Company (NTDC) and KfW Bank signed a credit deal for 43.76 million euros on Friday to finance the development of the 500-kilovolt Chakwal Grid Station in Lahore.
A second grant deal worth 2.4 million euros was also inked; it was donated by the German government for the development of NTDC’s capability.
KfW Director Sebastian Jacobi, Economic Affairs Division Secretary Dr. Kazim Niaz, and NTDC MD Dr. Rana Abdul Jabbar Khan signed the loan agreements during a ceremony conducted at the Economic Affairs Division in Islamabad.
On a plot of land of 715.13 kanals, a 500kV grid station will be built at Chakwal. For the construction of the grid’s boundary wall, the contractor has already been called in and the site has already been acquired.
In addition to supplying the increased demand for electricity from industries, the grid station will also improve the quality of the power supply in the Chakwal district’s surrounding districts.
Additionally, it would improve the networks of the related NTDC and Islamabad Electric Supply Company (Iesco). The voltage profile upgrade will assist create jobs and commercial prospects in the region, especially for the cement businesses in Chakwal.
