The Water and Power Development Authority (Wapda) has awarded the contract of the construction of the Diamer-Bhasha dam, the spokesperson for the authority, Muzammil Hussain, said on Wednesday.
The spokesperson said that the contract for the construction of the main dam was worth Rs442bn and had been awarded to a joint venture between Power China and Frontier Works Organisation (FWO).
The contract includes the construction of the main dam, a diversion system, bridge and a hydro power plant in Tangir.
"The Diamer-Bhasha dam is a vital project for the water, food and energy supply in the country," said Faisal Vawda, the minister for water resources.
"Our government launched the construction of major dams like Mohmand and Diamer-Bhasha within one year," he said.
The Wapda spokesperson said that the Diamer-Bhasha project's value was estimated at around Rs1,406.5bn and will complete in 2028.
Hussain said that the dam will be able to store 8.1 million acre-feet of water and will be able to produce 4,500MW of electricity.
The dam will be able to provide the national grid 18 billion units of electricity annually.
The spokesperson said that earlier a consultancy service contract had also been awarded to the Diamer Bhasha consultants service group worth Rs27.18 bn.