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ADB okays loans

for Pakistan to

ease power shortage

MANILA: The Asian Development Bank said on Wednesday it had approved two loans totalling $97 million and a $5.3 million equity investment to help ease Pakistan's power shortage.

The loans and equity investment will go to the Fauji Kabirwala power project which entails the construction and operation of a 151-mw, gas-fired combined cycle power plant near Kabirwala in Punjab, an ADB news release said.

The Fauji Kabirwala Company Ltd (FKPC) will build, own and operate the plant for 30 years, it said.

The equity investment, from the bank's ordinary capital resources, will constitute12.5 percent of FKPC's paid-up capital, ADB said.-Reuter