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Once a military stronghold for maharajahs, the fortress of Mangla in West Pakistan has in recent years commanded nothing more than a sweeping view of a river valley to the southwest and snow-tipped mountains to the north. Last week Pakistan President Ayub Khan came to Mangla to dedicate its new clay and sandstone dam-part of a $2 billion complex that when completed will be the world's largest irrigation network, bringing water to 30 million acres of land and serving the 50 million people who live in the vast Indus River basin...

Author: /time Magazine | Title: Business: Dam at Mangla | 12/1/1967 | See Source »

Racing for the Bonus. The Mangla dam, first part of the complex to be completed, took a group of eight U.S. companies led by Guy F. Atkinson Co. of San Francisco less than six years to build at a cost of $510 million. The embankment stands 380 ft. high, is 11,000 ft. long, and holds 75 million cu. yds. of dry earth and rock. It is the world's fifth largest earth-filled dam and has the largest-capacity spillway, discharging 1.2 million cu. ft. of water per second, four times as much as Niagara Falls. Five...

Author: /time Magazine | Title: Business: Dam at Mangla | 12/1/1967 | See Source »

...means confine themselves to making loans, collections and money transfers for American enterprise. The Chase Bank helped to bankroll Turkey's largest industrial project, the new Eregli Iron and Steel Works; the Bank of America contributed to auto plants in Brazil and France and to the Mangla Dam between India and Pakistan. To attract the rising consumer classes overseas, many of the U.S. banks also offer loans to small borrowers, who often find it impossible to get credit from more conservative local banks and are willing to pay interest charges of 8% to 10% or even more. This year...

Author: /time Magazine | Title: Banking: The Glamorous Side | 6/25/1965 | See Source »

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