LAHORE: The Pakistan Water and Power Development Authority (WAPDA) on Friday, after securing approval of the World Bank, awarded a contract worth $312 million to a consortium for electro-mechanical works for the 1,410 mega watt (MW) Tarbela fourth Extension Hydropower Project.
The consortium comprises of two internationally renowned companies, Voith Hydro of Germany and Voith Hydro Shanghai of China.
According to a press release, the agreement was signed at Wapda House in Lahore on Friday. Project Director Tarbela 4th Extension Hydropower Project and Chief Executive Officers of both firms signed the agreement on behalf of Wapda and the consortium respectively.
Chairman Wapda Syed Raghib Abbas Shah, members of the authority and other senior officers of Wapda were also present.
It is pertinent to mention that the civil works of the project are already underway. The project has been scheduled to be completed in three-and-a-half-years at an estimated cost of $928 million of which the World Bank is providing $840 million.
Tarbela 4th Extension Hydropower Project is a part of least-cost electricity generation strategy of the federal government being implemented by Wapda.
Terbela 4th Extension Hydropower Project is expected to increase generation capacity of Tarbela Hydel Power Station from 3,478 MW to 4,888 MW, after installation of three units of 1410 MW on tunnel no. 4.
On completion, Tarbela 4th Extension Hydropower Project is expected to add about 3.84 billion units of low-cost electricity to the National Grid per annum. Annual benefits of the project have been estimated at about Rs30.7 billion. The project will pay back its cost in just three years. It 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.
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