Tuesday, October 4, 2022

WAPDA projects have attracted Austrian firms

Austrian enterprises would take advantage of opportunities embedded in Wapda projects, said Austrian Foreign Minister Alexander Schallenberg, aiming to become partners for mutual prosperity.

With the Austrian Ambassador and a high-level business group, the foreign minister investigated opportunities to work with Wapda on mega-projects in the water and hydropower sectors.

He praised Wapda’s contribution to Pakistan’s transition to a low-carbon economy.

Assoc. Prof. Dr. Nicolaus Keller, Austrian Ambassador, said the visit would benefit Wapda-Aust

The authority’s mandate, development portfolio, financial strength, and expertise to successfully manage large projects were explained by Wapda Chairman Muzammil Hussain.

Concerning the ongoing projects, he stated that Wapda was undertaking around ten projects worth over $26 billion under the ā€˜Decade of Dams’ programme, which would be finished between 2022 and 2028-29.

The projects would provide roughly 11.7 million acre feet of water storage capacity and 11,369 megawatts of installed clean, green, and low-cost hydel power producing capacity.

He thought Wapda projects, especially Diamer-Bhasha Dam, offered great financial prospects.

In order to benefit from these chances, Austrian firms should ā€œparticipate in worldwide competitive processesā€, he said.

On the strength of its capital structure and balance sheet, Wapda successfully launched a green Eurobond on the London Stock Exchange last year.

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