Saudi Arabia approves 901 million Saudi Riyal funding for Mohmand Dam Construction

Saudi Arabia has approved a funding of 901 million Saudi Riyal for the construction of Mohmand Hydropower Dam, ARY NEWS reported quoting Kingdomโ€™s Ambassador to Pakistan Nawaf Bin Said Al-Maliki.

The Saudi envoy shared this while meeting with the Federal Minister for Economic Affairs Omar Ayub besides also discussing the success of Prime Minister Imran Khan.

Saudi Arabia approves 901 million Saudi Riyal funding for Mohmand Dam Construction

He said that funding of 901 million Saudi Riyal was approved for the construction of Mohmand Dam from the Saudi Development Fund. โ€œThe funding is for 25 years and an interest rate of two percent will be charged on it,โ€ said the envoy of Saudi Arabia.

Omar Ayub assured the Saudi envoy Nawaf Bin Said Al-Maliki of the early utilization of funds so that the construction of the project could be expedited. โ€œThe government is currently focused on improving renewable energy sources for the generation of power in the country,โ€ he said.

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