According to a WAPDA spokesman Saturday, Pakistan Water and Power Development Authority (WAPDA) Chairman Shakil Durrani stated this while chairing a meeting at WAPDA House to discuss a report submitted by an international panel of experts. WAPDA Member (Water), Secretary WAPDA and General Managers concerned attended the meeting.

The chairman said International Financial Institutions (IFIs) had taken keen interest in providing funds for WAPDA projects due to excellent Economic Internal Rate of Returns (EIRR) of the schemes.

The Dasu hydropower project is part of a least-cost energy generation plan, being executed by WAPDA to harness indigenous hydropower resources 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 Indus river, seven kilometer upstream of Dasu village and 74 kilometers downstream of the Diamer-Basha project.

The site of the project is situated on Korakoram Highway, about 350 kilometers from Islamabad.

WAPDA's priority is to construct the Diamer Basha dam for which land acquisition has already started and 13 contracts for offices, colonies and roads awarded. The Dasu project will follow the initiation of the Diamer Basha project. Detailed engineering design, PC-I and tender documents of the project are likely to be completed in early 2013.

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