Minister for Water Resources Faisal Vawda while Addressing a joint press conference with Chinese Ambassador Yao Jing and Wapda Chairman Lt. General Muzammil Hussain (retired) said the contractors and machinery had reached Chilas city in Gilgit-Baltistan to formally begin construction work on Rs1.4 trillion Diamer-Basha dam.
This is the second mega project started within a year as the Mohmand Dam was started about a year ago. The project would generate about 16,500 jobs and reinvigorate cement, steel and transport sectors as about 1000 trucks would daily move on the roads to supply material to the dam site.
Wapda Chairman said the government of Pakistan does not have resources for the project with the total estimated cost of Rs1.407trillion. The government would meet about 30pc or Rs406bn share of the total project cost while remaining Rs997bn or 70pc would be arranged by Wapda through Rs100bn equity besides commercial financing and Eurobonds etc.
After completion Diamer Bhasha Dam would produce 4500 MW of cheap and affordable electricity for meeting energy requirements of the country.