Saudi Arabia has decided to provide 901 million Saudi riyal, for the construction of Mohmand dam. The amount PKR is equal to 37.4 Billion.
During a meeting the ambassador of Saudi Arabia in Pakistan Nawaf bin Saeed Al-Malkiy informed federal Minister for Economic Affairs Omar Ayub Khan that the kingdom has approved 901 million Saudi Riyal (Rs37.4 billion) for the construction of Mohmand Hydropower Project. The loan will be given at the rate of 2 per cent for a period of 25 years.
After the meeting an official statement was released which said “This dam will be constructed on Swat River in District Mohmand of Khyber-Pakhtunkhwa province and generate 800MW of electricity,” It said that the dam will also irrigate 16,000 acres of land and boost agriculture productivity in the region. “This dam will play a vital role in socio-economic uplift of the province.”
The 800MW Mohmand Dam is being built across Swat River in Mohmand tribal district of Khyber-Pakhtunkhwa with gross water storage capacity of 1.2 MAF. The dam will provide 300 million gallons of drinking water per day to Peshawar.
In terms of electricity, irrigation, and flood protection, the country will accrue an annual benefit of Rs51 billion after the completion of the dam.