Wapda Executing $26b Worth Of Projects
LAHORE: The Water and Power Development Authority (Wapda) is executing several megaprojects including the Diamer Bhasha Dam, Dasu Hydropower Project, and Mohmand Dam at a total cost of $26 billion, said Wapda Chairman Muzammil Hussain.
Talking to a delegation of JP Morgan on Wednesday, Hussain said that such a huge portfolio of schemes was being built after a gap of almost five decades and it was being done through the adoption of an innovative financing strategy and an optimal capital structure.
While giving a rundown of 10 under-construction Wapda projects, the chairman stated that these schemes would enhance water storage capacity by more than 11 million acre-feet (MAF) and add another 9,000 megawatts of hydel electricity to the system.
“Wapda possesses the unparalleled institutional capacity to identify and implement multi-purpose hydropower projects,” he said. Hussain pointed out that the organization had adopted a multi-pronged strategy, including Green Eurobonds and syndicated loans, for the implementation of its projects, which marked a radical shift from reliance on the government of Pakistan.
“Wapda’s business model has a key role to play in the development of a sustainable and low carbon economy in Pakistan,” he remarked.