Lahore, September 09, 2013 (PPI-OT): In view of the Federal Government’s resolve to provide relief to the consumers by adding low-cost hydel electricity to the National Grid, the Pakistan Water and Power Development Authority (WAPDA) today signed the contract worth Rs.26.053 billion with Chinese firm Sinohydro for Civil Works of the 1410 MW- Tarbela 4th Extension Hydropower Project.
The contract agreement signing ceremony was held today at Islamabad. Chief Engineer/ Project Director, Muhammad Yousaf Khattak and Mr.Duan Jianxia signed the contract agreement on behalf of WAPDA and Sinohydro respectively. WAPDA Chairman Syed Raghib Abbas Shah, WAPDA’s senior officers and others were also present on the occasion.
Tarbela 4th Extension Hydropower Project is a part of least-cost power generation strategy of the Federal Government being implemented by WAPDA on priority. This strategy not only aims at adding a sizeable quantum of electricity to the national grid but also improving the share of low-cost hydel electricity in the overall system for reducing the power tariff.
Tarbela 4th Extension Hydropower Project will be constructed in three and half years at estimated cost of US $928 million. It is pertinent to mention that the World Bank has agreed to provide US $840 million for the project.
Tarbela 4th Extension Hydropower Project will increase the hydropower generation capacity of Tarbela Hydel Power Station to 4888 MW, after installation of three units of 1410 MW on Tunnel No. 4.
On completion, Tarbela 4th Extension Hydropower Project will add about 3.84 billion units low-cost electricity to the National Grid per annum. Annual benefits of the project have been estimated at about Rs.30.7 billion. The project will pay back its cost in just three years. The project will also be instrumental in saving foreign exchange on import of almost one million ton of furnace oil annually, required for the equivalent generation of electricity from thermal sources. The project will also provide a cushion to undertake rehabilitation and up-gradation of the existing Tarbela Power House during the lean period.
For more information, contact:
Muhammad Abid Rana
Director Public Relations
Water and Power Development Authority (WAPDA)
G-32, WAPDA House, Lahore
Tel: +9242 9920 2633 and +9242 9920 2211 -2033 -2029
Cell: +92333 445 8293