ISLAMABAD – Saudi Arabia will make an investment of SR1.207 billion ($322million) in five hydropower projects of Pakistan during the upcoming visitof the Saudi crown prince, it was learnt on Wednesday.

According to sources, Pakistan and Saudi Arabia will sign a memorandum ofunderstanding (MoU) in this regard during the upcoming visit of Saudi CrownPrince Mohammad bin Salman, who is scheduled to land in Islamabad onSaturday.

Sources said that the Federal Cabinet would today (Thursday) approve thesigning of $322 million financial agreement between Pakistan and SaudiDevelopment Fund (SDF) on a summary submitted by the Economic AffairsDivision.

The SDF would provide SR131.25 million financing for Jagran HydropowerProject-IV, SR153.75 million for Jamshoro Power Generation Project, SR247.5million for Shounter Hydropower Project, SR375 million for Diamer-BhashaDam Project and SR300 million in Mohmand Dam Hydropower Project.