Saudi Arabia’s extraordinary support for Pakistan, to fund power projects in Azad Kashmir – Business & Economy

Saudi Arabia has taken an important step in terms of development works in Azad Kashmir, under which the Gulf state will fund 2 hydropower projects in Azad Jammu and Kashmir.

According to Arab News, the agreement has been signed by the Saudi Fund for Development, the delegation was chaired by CEO Sultan bin Abdul Rahman Al Murshid, who represented Saudi Arabia.

The delegation visited Azad Kashmir and signed an agreement for the funding of Shounter and Jagran 4 hyder power projects.

Both projects will add 70 megawatts to the national grid. According to official sources, the Shounter Hydro Project will provide 48 megawatts of electricity to the National Grid at a cost of $66 million, while the Jagran 4 Hydro Project will provide 22 megawatts of electricity at a cost of $41 million.

It should be noted that India considers Azad Kashmir as a disputed territory and prevents the international community from cooperating or investing with Pakistan here.

After the interest of Saudi Arabia, the Indian position will face defeat in the Gulf states.