ISLAMABAD, May 30 (INP): The construction of delayed-for-decade Mohmand Dam will be completed before flood season of 2024.

Sources told that the estimated cost of the project is Rs291 billion and Water and Power Development Authority would provide 67 per cent financing while remaining 37 per cent would provide by the government.

The local people had already transferred land for the project and it would help mitigate flooding in the area for ever but also generate 800 MW cheap hydel electricity.

They said contract for civil and electro-mechanical works of Mohmand Dam Project had already been awarded to a Joint Venture comprising the China Gezhouba Group of Companies (CGGC) of China and DESCON of Pakistan.

Mohmand Dam Hydropower Project would phenomenally contribute towards water, food and energy security of Pakistan.

They said Mohmand Dam would go a long way in stabilizing the national economy besides alleviating poverty and ushering in an era of development in the project area.

Mohmand Dam Hydropower Project is historic and unique in nature being constructed on River Swat in Tribal District Mohmand of Khyber Pakhtunkhwa Province. On completion, the project will store about 1.2 million acre feet (MAF) of water, generate 800 megawatt (MW) of low-cost hydel electricity and help mitigating floods in Peshawar, Charsadda and Naushera.

Besides supplementing 160,000 acres of existing land, about 16,700 acres of new land will also be irrigated because of Mohmand Dam. In addition, 300 million gallon water per day will also be provided to Peshawar for drinking purpose. Annual benefits of the project have been estimated at Rs51.6 billion.