The Dasu hydroelectric power project would provide more than 8,000 jobs to local residents while helping the government modernise and expand the energy sector of the country, reported China Daily on Friday.

The project, consisting of the main dam, affiliated facilities, a powerhouse, a residential complex and transmission lines, will also help boost the development of local industry, agriculture and tourism, the daily added.

China Gezhouba Group Company Ltd has agreed to invest more than $1.72 billion for construction of the main works of the hydropower project.

According to Deng Yinqi, vice president of CGGC, a member company of the China Energy Engineering Corporation, the power project on completion would be capable of generating 12 billion kilowatt hours annually.

The CGGC said in a statement that the project will be one of the most difficult hydropower stations to construct.

The 4,320MW Dasu hydropower project is being constructed by Wapda on the River Indus upstream of Dasu town in Kohistan district of Khyber Pakhtunkhwa.

The project will be completed in two stages — each stage having a generation capacity of 2,160MW.

The World Bank is partially providing funds for the construction of stage-I of the project, while a major chunk of the finances are being arranged by Wapda from its own resources and with the sovereign guarantee of the government of Pakistan.

Stage-I of Dasu Hydropower Project will be completed in almost five years and contribute more than 12bn units per annum to the national grid. The stage-II, after its completion, will provide another 9bn units to the system every year.