Pakistan Secures $900M Loan For Coal Power Plant

Law360, New York (December 9, 2013, 3:03 PM EST) -- The Asian Development Bank is providing a $900 million loan for a new, 600-megawatt supercritical coal-fired power plant in Pakistan, a country the bank said Monday was in desperate need of reliable energy.

The ADB said Pakistan was facing an energy crisis leading to a decline in investment and decreased annual gross domestic product. Exacerbating Pakistan’s problem are the rising costs of imported fuel oil, which accounts for more than a third of the country’s energy production, according to the ADB. The plant is expected to...
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