WAPDA to execute multiple projects worth US $ 26 billion

WAPDA is all set to execute development projects including Diamer Basha Dam, Dasu Hydropower Project and Mohmand Dam worth US $ 26 billion after a span of almost five decades. In the recent meeting of WAPDA Chairman, Lt Gen Muzammil Hussain (Retd), he highlighted the adoption of innovative financing strategy on the back of a robust capital structure and strong balance sheet footing. The delegation included senior representatives namely Asif Raza, Managing Director Global Corporate Bank CEEMEA, Imran Zaidi, Managing Director Global Corporate Bank covering Middle East and North Africa (MENA) and Amin M. Khawaja, Chief Executive Officer Pakistan, media wing of WAPDA said in a statement released to the media here. Briefing about the run-down of 10 under construction WAPDA projects, it is estimated that these projects would enhance water storage capacity by more than 11 MAF and add another 9000 MW of hydel electricity to the system. As WAPDA has institutional capacity to identify and implement multipurpose hydropower projects, this multi-pronged strategy includes Green Eurobonds and Syndicate loans etc. for implementation of its projects. While utilizing the international financial and capital market in a staggered mode, this will minimize financing cost, in line with its financing requirements.