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World Bank agrees to provide funds for 4,320MW Dasu project

The World Bank has agreed to provide financial assistance for 4,320MW Dasu hydropower project, following the signing of an agreement with the government of Pakistan to provide $840 million for 1,410MW Tarbela 4th extension project, a statement said on Thursday.

It has also been agreed that the project will be constructed in phases after the initiation and finalisation plan of the 4,500MW Diamer-Bhasha dam project, it said.

Shakil Durrani, chairman of the Water and Power Development Authority (WAPDA) stated this, while presiding over a meeting at the WAPDA House to discuss the report submitted by the international panel of experts, it said.

The chairman said that the international financial institutions were taken keen interest in providing funds for WAPDA projects due to excellent economic internal rate of returns (EIRR) of these schemes.

Dasu hydropower project is a part of least-cost energy generation plan, being executed by WAPDA to harness indigenous hydropower resource of the country with a view to improve the ratio of hydel electricity in the national grid.

The project is proposed to be constructed on the River Indus, 7km upstream of Dasu village and 74km downstream of Diamer-Bhasha dam project, the statement said, adding that the site of the project is situated at Karakoram Highway, about 350km away from Islamabad.

WAPDA’s priority is to construct Diamer-Bhasha dam for which land acquisition had already started and 13 contracts for offices, colonies and roads have been awarded. Dasu hydropower project would follow the initiation of Diamer-Bhasha dam project, it said.

Detailed engineering design, PC-I and tender documents of the project are likely to be completed in early 2013. Afterwards, the construction work on the project will commence, it said.

The World Bank is providing funds for preparation of detailed engineering design. On completion, the project will generate 21.3 billion units of electricity per annum, the statement said, adding that the completion of the project will also have a positive impact on the existing hydel power stations, including Tarbela, Ghazi Barotha and Chashma.

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