Dams projects of Wapda: China’s EXIM Bank agrees to provide $700mn loans

ZAHEER ABBASI

ISLAMABAD: The EXIM Bank of China has agreed to provide $700 million at relatively low interest rate for dams’ projects being executed presently by Water and Power Development Authority (Wapda) to enhance water storage capacity and generate more power, an official said.

According to the official, the EXIM bank after long negotiations has agreed to reduce the interest rate on loan for Darawat Dam, Nagj Gaj Dam and Naulogn Dam being executed by Wapda. The official said that presently six major dams’ projects were being implemented and some of them were going to be completed in the current fiscal year.

Sources said that Gomal Zam Dam with estimated cost of Rs12.829 billion was scheduled to be completed in February 2013. About 76 percent work of the dam designed to generate 17.4 MW power and water storage capacity of 0.892 million acre feet (MAF) has been completed.

They said that about 99 percent work of Satpara Dam has been completed and the project scheduled to be completed in June 2012 has been delayed till February 2013. The project is designed to generate 17.36 MW power and store 0.053 MAF water. Survey work of Khurram Tungi Dam has been started and tendering is in the process. Khurram Tungi Dam on completion would generate 83.4 MW power with a storage capacity of 0.90 MAF water.

The work on Darawat Dam, they said, would be completed by June 2012 as about 40 percent progress has been made on the project. The project would have water storage capacity of about 0.120 MAF and power generation capacity of 0.4 MW. Another project currently being executed by Wapda is Nai Gaj Dam scheduled to be complete on June 2012 to have water storage capacity of 0.300 MAF and 4.4 MW power generation. Naulogn Dam project, sources said, is also being executed and contractor was mobilized after EXIM bank showed willingness to reduce the interest rate on the loan. The Rs 15.970 billion worth project is designed for storage capacity of 0.242 MAF and 4.4 MW power generation. WAPDA, an official said, is executing 6 major projects worth Rs43.946 billion with an accumulated water storage capacity of 2.507 MAF and power generation of 127.36 MW.