LAHORE, Dec. 29 (APP)- Wapda signed a contract with SAMBU and SARCO (a joint venture of Korean and Pakistani firms) for Rs 1.912 billion Lot-3.1 of 106-MW Golen Gol Hydropower Project involving civil works of the power house, tale race and switch-yard, at Wapda House here Wednesday.The Water and Power Development Authority (Wapda) has also inked Rs 7.52 billion agreement for Lot-2 of the project with the same joint venture a couple of days back.
Golen Gol Hydropower Project, scheduled to be completed in four years, will generate about 436 million units of electricity annually. According to the estimates, the project will add about Rs. 9 billion per annum to the national economy through socio-economic uplift.
On this occasion, the Wapda Chairman said Pakistan possesses an identified hydropower potential of 60000MW, which stands at about over half a dozen hydropower projects of more than 1400MW accumulated generation capacity are in the construction phase, three projects of about 4800MW are available for initiating construction work, another five mega projects with a total capacity of 13200MW are in the detailed engineering design phase, while feasibility studies of several projects with thousands of mega watts of generation capacity are also in progress.
He said the Authority was committed to optimum utilization of hydropower potential in the country, which not only help bridge the gap between power demand and generation but also improve the ratio of low-cost hydropower in the national grid.
Wapda Member (Water) Syed Raghib Abbas Shah, Secretary Imtiaz Tajwar and other officers concerned were also present.