The Water and Power Development Authority (Wapda) on Wednesday signed a $180-billion agreement with China's Gezhouba Group Company to finance the construction of Dasu Hydropower project.

The two-part agreement covers the construction of main dam, appurtenant structures and hydraulic steel structures, underground power complex, and tunnels.

Khawaja Asif, the federal water and power minister, said the government was committed to optimal utilisation of hydropower resources for generating low-cost electricity to end power outages.

"Dasu Hydropower project is a manifestation of this commitment. The forthcoming summer will witness low load-management," he added.

Dasu project is expected to generate 4,320 megawatt of electricity upon its completion. The World Bank is partially funding the construction of Stage-I, to be completed in almost five years, of the project.