Ghazanfar Group

Jun 18, 2020

Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know. The Asian Development Bank (ADB) has signed an agreement to provide a loan to the Afghan Power Plant Company (APPC) for the Mazar gas-fired power plant in Afghanistan. ADB’s financing package of $10m aims to support Afghanistan’s efforts to achieve energy security through its own power sources. The ADB loan will finance the construction and operations of a 58.5MW gas-fired power plant near Mazar-i-Sharif in northern Afghanistan. The plant will be cost $89m and will use indigenous gas for generating electricity. Once operational, it is expected to generate 404GWh of power annually. Owner APPC is a special purpose vehicle, jointly owned by Ghazanfar Group and Egyptian construction company Hassan Allam Holdings. APPC chairman Ismail Ghazanfar said: “Ghazanfar Group is honoured to have the support of international development banks including ADB for this first-of-its-kind project in Afghanistan. “This is the first step in Ghazanfar Group’s vision of helping to develop 5,000MW of energy generation facilities in Afghanistan through partnerships with international development banks, local and international companies, and the Government of Afghanistan.” Given the current climate, how long do you anticipate it will take for the global economy to recover post COVID-19? Less than one year Three years to less than five years More than five years