Bhasha Dam to cost $12b

ISLAMABAD- The federal government in a meeting on Tuesday accorded approval to the Diamer Bhasha Dam worth $ 12.6 billion, and bids for the pre-qualification of the contractors would open by November 30.

The Dam on completion would add 4,500megawatt electricity in the system, said Federal Minister for Water and Power Raja Pervez Ashraf during press briefing on the Diamer Bhasha Dam project.

The Minister said that government had also approved comprehensive plan for the families who could be displaced due to construction of the said dam and they would be paid the compensation. He informed that the said project would be completed in the next seven years.

The Minister further said that project would benefit the country by providing electricity worth $ 1.5 billion per annum. He said that agriculture sector would get the benefit of $ 500 million annually.

The Minister said that the project would help benefit the agriculture sector and there would be no power crisis in the country after the completion of the project. He said that during the president visit to China, the Chinese companies had taken interest in materializing the Diamer Bhasha dam project.

The Minister further informed that Arab and European countries were also interested in the project and wanted to make the consortium for the completion of the project. He said that Pakistan required $ 1.5 billion per annum financing for the project. He said that 28,000 people, who would be affected as a result of construction of Bhasha dam, would be compensated.