A Memorandum of Understanding was signed for the implementation of power transmission project to Badakhshan province and construction of Sheewa Dam, the Office of the President said Tuesday.

According to a statement released by ARG Palace, the Memorandum of Understanding was signed during a ceremony which was organized in Char Chinar Palace today.

The statement further added that the Acting Minister of Energy and Water Mohamamd Gul Khulmi, Director of Da Afghanistan Breshna Sherkat Eng. Amanullah Ghalib and Representative of Aga Khan Fund for Economic Development signed the Memorandum of Understanding.

The Office of the President also added that the main purpose of the signing of Memorandum of Understanding is to pave the way the investment of 631 million US Dollars by Aga Khan Fund for Economic Development on two projects.

The statement also added that the contract duration has been considered for 30 years to resolve the issues of electricity demand and the project would be implemented in several phases with each phase to be completed over a period of 7 years.

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