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NJHPC receives major financing boost for 969-MW Neelum Jhelum hydropower plant

A consortium of 16 banks have awarded more than US$1.474 billion to the Neelum Jhelum Hydropower Co. Ltd. to continue the development of Pakistan’s 969-MW Neelum Jhelum hydroelectric project.

The financing, arranged by the National Bank of Pakistan, comes in the form of a specialized Islamic bond called a “sukuk” with a 10-year tenor and a sovereign guarantee by the Pakistani government.

Azad Jammu and Kashmir

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