WAPDA to contribute Rs271bn for 3 mega hydro projects

LAHORE: After timely completion of three previous delayed hydropower projects under a fast-track policy and generating almost Rs80 billion in revenue, the Water and Power Development Authority (WAPDA) will contribute Rs271 billion as equity for three mega hydropower projects, announced WAPDA Chairman Lt Gen (R) Muzammil Hussain.

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Out of the total sum allocated, WAPDA has distributed Rs176 billion to Diamer-Bhasha dam (DBD), Rs66 billion to Dasu project and Rs29 billion for Mohmand hydropower project.

In addition to the equity provided by WAPDA, the financial plan for the 4,500MW DBD project worth Rs1300 billion includes a payment of Rs234 billion granted by the federal government under the Public Sector Development Programme (PSDP), Rs100 billion through local commercial financing and Rs475 billion from foreign commercial financing.

The 4,320MW Dasu hydropower project worth Rs443 billion has received Rs80 billion from International Development Association (IDA)-1/2 credit, Rs37 billion from Credit Suisse loan, Rs31 billion from export credit agencies, Rs45 billion from World Bank, Rs144 billion from local financing or Sukuk Bond and Rs3 billion from local financing or loan, along with the WAPDA’s equity.

Civil work on stage 1 (2,160MW) of the Dasu project, with a total installed capacity of 4,320MW, is underway.

Out of an estimated total of Rs309 billion for the Mohmand dam project, Rs114 billion will come from PSDP, Rs29 billion from WAPDA’s equity, Rs33 billion from local commercial financing and Rs83 billion from foreign currency financing.

Development work on the 800MW multipurpose dam with live storage of 0.67 million-acre feet has also been launched.

The largest supplier of the hydel power will recover its equity through tariff that depends on timely payments by the Central Power Pur­chase Agency (CPPA) with­­in a period of nine years for DBD, five years for Dasu and six years for Mohmand.

By introducing such projects, the authority is creating a buffer for water security of the country, said Chairman WAPDA.

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