A sum of Rs 99.238 billion including Rs 93.9 billion for land acquisition on multi-purpose Diamer Bhasha dam project has already been spent so far.
Sources told state-run news agency here that an amount of Rs 61 billion would be spent on the project during the current fiscal year. Giving the breakup, they said Rs 22 billion would be spent of resettlement while remaining Rs 39 billion would be utilised for construction-related activities, they added.
They said construction activities on main Diamer Bhasha dam and its allied structures would start during the current fiscal year 2019-20 while the project would likely be completed by March 2028. The sources said that the project was divided into six major components for which separate contracts would be awarded in phases.
Modalities for awarding the contract of the main dam and its allied structures have also been finalised, adding that contract was likely to be awarded shortly, they said.
Diamer Bhasha Dam is a multipurpose project aimed at water storage, flood mitigation and power generation. The project is being constructed across River Indus about 40-kilometer downstream of Chillas town. The 272-meter high Roller Compacted Concrete (RCC) Dam will have a gross water storage capacity of 8.1 million acre-feet (MAF).
The project will generate 4,500 megawatts of electricity with an annual energy generation of more than 18 billion units of low-cost and environment-friendly electricity. With the construction of Diamer Basha Dam Project, the life of Tarbela Dam will be enhance to another 35 years. It will also have a positive impact on the annual energy generation of the projects in the downstream areas.