LAHORE, March 7: In yet another significant development towards implementation of the multi-purpose Diamer-Bhasha Dam Project, three consortiums, comprising 20 renowned international and local firms, have submitted their proposals of consultancy services for construction design, construction supervision and contract administration of the project.

The Pakistan Water and Power Development Authority (Wapda) received this response from reputed firms of Europe, America and China in the wake of its notice for Expression of Interest (EoI) for procurement of consultancy services for the Diamer-Bhasha Dam Project, which is regarded as good omen for the project.

The federal government through Wapda is implementing Diamer-Bhasha Dam as a priority project. The project is of immense importance for the socio-economic development of the country.

On completion, the project will help store 8.1 million acre feet of water for agricultural and generate 4,500MW electricity -- about 20 billion units of low-cost hydel electricity to the national grid every year.

For the multi-billion dollars project, acquisition of land, development of infrastructure in the project area and implementation of social action plan, including construction of a model village, for the displaced populace and other steps leading towards their socio-economic development are continuing side by side.

Special emphasis is being laid on resettlement action plan, prepared in accordance with international safeguard policies and guidelines.

A sum of Rs68 billion has been earmarked for providing social services to the affectees, Rs42 billion for acquisition of land and Rs8 billion for compensation of other assets, etc.