ISLAMABAD, Feb 19: Saudi Arabia is likely to participate as financier and investor in Pakistan’s major water sector projects through its public and private sector, it is learnt.

The Saudi government and the Islamic Development Bank (IDB) have not yet made any commitment to the limit of funding or the number of investors taking part in the construction of big dams.

However, they have agreed to exchange follow up delegations with Pakistan to crystallise their investments and financing arrangements for the water sector projects, official sources told Dawn.

A delegation of Economic Affairs Division Secretary Khalid Saeed and water and power ministry’s adviser Riaz Ahmad Khan returned from Saudi Arabia on Friday after holding talks with senior Saudi and IDB officials.

The delegation remained in the Saudi Arabia for five days (Feb 12-17) and held discussions with the officials of the Saudi ministries of agriculture and water, industries and electricity, Islamic Development Bank, and some leading companies.

Official sources said the delegation presented to Saudi authorities projects, which are part of President Musharraf’s Water Vision 2016, envisaging construction of Kalabagh, Bhasha, Akhori and Munda dams.

These sources said the talks were of preliminary nature and no specific project or funding requirement was presented to the Saudi government or to the IDB.

They said Saudi Arabia could extend financial assistance for the projects and its private and public sector companies could take part in these projects as investors and contractors.

The sources said the issue had been discussed during the recent visit of King Abdullah bin Abdul Aziz, and Pakistan had sought financial support and investments for big dams like Basha, Kalabagh, and Akhori.

The Saudi King Abdullah had asked the Pakistan government to send a team to negotiate with Saudi Fund and Islamic Development Bank.

Meanwhile, these sources said, the inauguration of Bhasha dam had been delayed owing to logistic problems in the area. The president had announced in his last month televised speech to inaugurate the project in the first week of February.

These sources said there were no boarding and lodging facilities in Bhasha and the only road leading to Bhasha was in a poor shape. “The president can reach Bhasha through helicopter, but a lot of government officials and security apparatus has to reach there in advance and make necessary arrangement and there is no place for them to live there,” the sources said.

When contacted, a senior official of the water and power ministry said: “The new date for inauguration has not been communicated to us as yet.” He said it would depend on the availability of the president that would become clear after his visit to China.