The Special Investment Facilitation Council (SIFC) looks to secure over $14 billion in investments from Gulf and other countries through the Diamer-Bhasha Dam project.
The council aims to market this through options of soft loans and investments. The Dam’s water component will incorporate the use of soft loans, while attractive investment offers will be considered for the power component of the mega project, according to a national daily.
Estimates for the completion of the long-delayed dam are expected to exceed $14 billion.
In its third committee meeting, SIFC directed WAPDA to hire a financial consultant for the Diamer-Bhasha project. Pertinently, the latest estimates place construction costs at more than Rs. 1,236.1 billion. WAPDA has been asked by the SIFC to finalize the financial model and explore investment/transaction opportunities to meet all requirements to support the project.
It bears mentioning that the Power Division alongside WAPDA will also pursue loan financing opportunities for Diamer Bhasha’s water component and then formulate investment offers for the power component.
The hybrid civil-military Special Investment Facilitation Council is currently working on projects worth billions of dollars for investment by Gulf countries, including the Diamer-Bhasha dam and mining operations at Reko Diq in Balochistan’s Chagai district.
The list of approved projects by SIFC shows that if all of the schemes are picked up by countries like Qatar, Saudi Arabia, the United Arab Emirates, and Bahrain, total investments under the SIFC banner might exceed the planned +$14 billion if the council sticks to its principles.
The Diamer-Bhasha dam has also been offered to Beijing under the ambit of the China-Pakistan Economic Corridor.
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