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Donors’ consortium to be set up for financing Basha Dam - LahoreEstate - 03-10-2009 07:52 AM
Tuesday, March 10, 2009
By Mehtab Haider
ISLAMABAD: The government will establish a consortium of all major multilateral and bilateral donors led by the Asian Development Bank (ADB) before the next budget for arranging $12.1 billion funding for the construction of Diamer-Basha Dam, it is learnt.
The World Bank (WB) may become part of the consortium for the project but it will not assume the driving seat in terms of providing funding for the multibillion dollar Basha Dam. In rupee terms, the cost of Basha Dam has been jacked up to Rs1 trillion as depreciation of rupee against dollar by 30 per cent alone increased its cost by Rs280 billion during the current fiscal year, said the official sources.
“When the rupee stood at 60 against a dollar, the cost of $12.1 billion translated into rupee was Rs720 billion, which was jacked up to around Rs1 trillion when the rupee touched 80 to a dollar,” official sources explained.
“Although, the government has not yet made official request to the World Bank for becoming part of the consortium as it is believed that the multilateral donors are not in competition with each other. When the ADB is on the driving seat the WB will not be involved up to that extent,” official sources, having knowledge about working of the multilateral donors, confirmed while talking to The News on Monday.
When Secretary Economic Affairs Division, Farukh Quayum was contacted for comments, he confirmed that the consortium of donors would be established by April 2009 in order to arrange financing for Diamer Basha Dam.
He said that the Islamic Development Bank (IDB) would also become part of the upcoming consortium for investing into Basha Dam. However, the sources said that it was understood that when the ADB would play major role in the construction of the Basha Dam other donors including the WB might become part of it but it would not play major role because these donors pursued projects in synchronization with each other.
The government, the sources said, is likely to establish donors consortium before the ministerial level meting of Friends of Pakistan in its scheduled meting of April 17, 2009 in Tokyo, enabling the donors to become part of the consortium.
The government is all set to divide Diamer-Basha Dam into two main categories for meeting financing requirements of $12.1 billion.
The tentative project cost of Diamer Basha Dam, the official document states, would be $12.1 billion, with total installed capacity of 4500 MW. There will be 12 units having capacity of 375 MW and the average annual generation of the dam will be 19000 GWH.
The Diamer-Basha Dam project is located on Indus River about 315 km upstream of Tarbela dam, 165 km downstream of Northern Areas capital Gligit and 40 km downstream of Chilas.
On the main dam, the type of the Diamer-Basha Dam will be Roller Compacted Concrete (RCC). The maximum height of the dam will be 270 m (height of its type in the world). On diversion system, there will be 2 number Diversion Tunnel (right side) and 1 number Diversion Tunnel (right side).
Regarding main spillways, there will be 14 gates and the size of gate will be 11.0 x 16.5 m. On the reservoir side, the maximum operating level of Diamer Basha Dam will be EI. 1160 m and minimum operating level of EI.1060 m. The Gross Capacity of the dam will be 9.0 BCM (7.3 Million Acre Feet (MAF). The live capacity of the dam will be 7.9 BCM (6.4 MAF).
Regarding the outlets of the Basha Dam, the technical feasibility illustrates that there will be 7 low level outlets and five sluicing. On sluicing tunnels, the Diamer-Basha Dam will have one right bank (through conversion of one diversion tunnel) and on the left bank there will be one additional tunnel.
http://www.thenews.com.pk/daily_detail.asp?id=166454