Ghazi Barotha Hydropower Project (Loan 1424-PAK) in Pakistan
Total Page:16
File Type:pdf, Size:1020Kb
Project Completion Report PCR: PAK 26409 Ghazi Barotha Hydropower Project (Loan 1424-PAK) in Pakistan August 2005 CURRENCY EQUIVALENTS Currency Unit – Pakistan Rupee/s (PRe/PRs) At Appraisal At Project Completion (October 1995) (January 2005) PRe1.00 = $0.0314 $0.0169 $1.00 = PRs31.79 PRs59.00 ABBREVIATIONS ADB – Asian Development Bank BUP – built-up property EA – executing agency EIRR – economic internal rate of return EOT – extension of time FIRR – financial internal rate of return GBTI – Ghazi Barotha Taraqiati Idara ICB – international competitive bidding IDB – Islamic Development Bank JBIC – Japan Bank for International Cooperation LVC – land valuation committee M&E – mechanical and electrical PCR – project completion review RAP – resettlement action plan T&D – transmission and distribution TA – technical assistance TOC – taking over certificate WACC – weighted average cost of capital WAPDA – Water and Power Development Authority WEIGHTS AND MEASURES A (ampere) – unit of electric current GWh (gigawatt-hour) – 1,000,000 kWh KA (kilo ampere) – 1,000 A km (kilometer) – 1,000 meters kV (kilovolt) – 1,000 V kW (kilowatt) – 1,000 W kWh (kilowatt-hour) – 1,000 Wh MW (megawatt) – 1,000,000 W W (watt) – unit of active power Wh (watt-hour) – unit of energy V (volt) – unit of electrical voltage NOTES (i) The fiscal year (FY) of the Government and WAPDA ends on 30 June. FY before a calendar year denotes the year in which the fiscal year ends, e.g., FY2005 ends on 30 June 2005. (ii) In this report, "$" refers to US dollars. vii vii CONTENTS Page BASIC DATA i MAPS vi I. PROJECT DESCRIPTION 1 II. EVALUATION OF DESIGN AND IMPLEMENTATION 1 A. Relevance of Design and Formulation 1 B. Project Outputs 2 C. Project Costs 3 D. Disbursements 4 E. Project Schedule 4 F. Implementation Arrangements 6 G. Conditions and Covenants 6 H. Related Technical Assistance 7 I. Consultant Recruitment and Procurement 7 J. Performance of Consultants, Contractors, and Suppliers 9 K. Performance of the Borrower and the Executing Agency 9 L. Performance of the Asian Development Bank 10 III. EVALUATION OF PERFORMANCE 10 A. Relevance 10 B. Efficacy in Achievement of Purpose 11 C. Efficiency in Achievement of Outputs and Purpose 11 D. Preliminary Assessment of Sustainability 11 E. Environmental, Sociocultural, and Other Impacts 11 IV. OVERALL ASSESSMENT AND RECOMMENDATIONS 14 A. Overall Assessment 14 B. Lessons Learned 14 C. Recommendations 15 APPENDIXES 1. Chronology of Main Events 16 2. Principal Project Data 18 3. Appraisal and Actual Project Costs 24 4. Currency Equivalents 25 5. Summary of Contracts Funded 26 6. Projected and Actual Disbursements 28 7. Implementation Schedule 29 8. Project Coordination Chart 30 9. Status of Compliance with Loan Covenants 31 10. Financial Statements 35 11. Water and Power Development Authority Electricity Tariffs 38 12. Planned and Actual Procurement Schedule 39 13. Financial and Economic Reevaluation 41 14. Data on Land, Resettlement, Income Loss, and Compensation 46 15. Quantitative Assessment of Overall Project Performance 48 BASIC DATA A. Loan Identification 1. Country Pakistan 2. Loan Number 1424-PAK 3. Project Title Ghazi Barotha Hydropower Project 4. Borrower Pakistan 5. Executing Agency Water and Power Development Authority 6. Amount of Loan $300 million 7. Project Completion Report PCR: PAK 893 Number B. Loan Data 1. Appraisal – Date Started 3 July 1995 – Date Completed 20 July 1995 2. Loan Negotiations – Date Started 10 November 1995 – Date Completed 13 November 1995 3. Date of Board Approval 16 January 1996 4. Date of Loan Agreement 11 March 1996 5. Date of Loan Effectiveness – In Loan Agreement 9 June 1996 – Actual 20 June 1996 – Number of Extensions 1 6. Closing Date – In Loan Agreement 30 June 2002 – Actual 20 January 2004 – Number of Extensions 1 7. Terms of Loan – Interest Rate Currency-specific lending ($) – Service Charge 1% per annum – Maturity (number of years) 25 – Grace Period (number of years) 6 8. Terms of Relending – Interest Rate 14% per annum – Maturity (number of years) 25 – Grace Period (number of years) 6 – Second-Step Borrower Water and Power Development Authority ii 9. Disbursements a. Dates Initial Disbursement Final Disbursement Time Interval 28 June 1996 20 January 2004 7 years, 7 months Effective Date Original Closing Date Time Interval 20 June 1996 30 June 2002 6 years b. Amount ($ million) Categorya Original Last Revised Amount Amount Undisbursedb Allocation Allocation Increased/ Disbursed Balance (Cancelled) 01 140.00 183.50 43.50 166.45 17.05 02 28.60 20.70 (7.90) 14.00 6.70 03 8.00 12.90 4.90 8.59 4.31 04 31.00 29.00 (2.00) 15.47 13.53 05 50.00 50.00 0.00 50.00 0.00 06 42.40 3.90 (38.50) 0.00 3.90 Total 300.00 300.00 0.00 254.51 45.49 a 01 = civil works for the barrage, 02 = gates equipment, 03 = cranes, 04 = transmission lines, 05 = interest and commitment charges during construction, 06 = unallocated, and 07 = local expenditure—civil works for the barrage. b An undisbursed loan amount of $45,493,361.98 was cancelled at loan closing (20 January 2004). 10. Local Costs (Financed) - Amount ($ million) 18.6 - Percent of Local Cost 2.6 - Percent of Total Cost 1.0 C. Project Data 1. Project Cost ($ million) Cost Appraisal Estimate Actual Foreign Exchange Cost 1,394.00 1,207.55 Local Currency Cost 806.00a 719.00b Total 2,200.00 1,926.55 a $20.0 million of which is Asian Development Bank funds. b $18.6 million of which is Asian Development Bank funds. iii 2. Financing Plan ($ million) Cost Appraisal Estimate Actual Foreign Local Total Foreign Local Total Exchange Currency Cost Exchange Currency Cost ADB Financed 280.0 20.0 300.0 235.9 18.6 254.5 Cofinancing 884.3 62.7 947.0 764.8 38.6 803.4 WAPDA 229.7 723.3 953.0 206.9 661.8 868.7 Total 1,394.0 806.0 2,200.0 1,207.6 719.0 1,926.6 ADB = Asian Development Bank, IDC = interest during construction, WAPDA = Water and Power Development Authority. 3. Cost Breakdown by Project Component ($ million) Component Appraisal Estimate Actual Foreign Local Total Foreign Local Total Exchange Currency Cost Exchange Currency Cost A. Base Cost 1. Land and Preparatory Works 0.9 117.9 118.8 0.0 174.4174.4 2. Civil Works 591.5 254.2 845.7 767.4 157.0 924.4 3. Electromechanical Equipment 307.1 62.7 369.8 147.7 6.7 154.4 4. Transmission Lines 51.8 13.0 64.8 30.1 6.6 36.7 5. Engineering and Administration 27.9 58.8 86.7 16.5 113.7 130.2 6. Import Duties 0.0 31.1 31.1 0.0 34.6 34.6 Subtotal (A) 979.2 537.7 1,516.9 961.7 493.0 1,454.7 B. Contingencies 1. Physical 116.1 53.5 169.6 150.0 20.0 170.0 2. Price 96.7 39.8 136.5 0.0 0.0 0.0 Subtotal (B) 212.8 93.30 306.1 150.0 20.0 170.0 C. Interest During Construction 202.0 175.0 377.0 95.9 206.0 301.9 Total Project Cost 1,394.0 806.0 2,200.0 1,207.6 719.0 1,926.6 iv 4. Project Schedule Item Appraisal Estimate Actual Land Acquisition Dec 1994–Nov 1995 May 1996–Aug 2001 Relocation and Resettlement May 1995–Oct 1999 Oct 1994–present Preparatory Works (Construction) Jun 1995–Dec 1996 Aug 1994–Sep 1998 Main Civil Works (Construction): C1 Barrage Dec 1995–Mar 2000 Dec 1995–Dec 2003 C2 Power Channel Dec 1995–Mar 2000 Dec 1995–Dec 2003 C3 Power Complex Mar 1996–Jun 2001 Feb 1997–Dec 2004 Mechanical and Electrical Works: ME-01 Turbines and Auxiliaries Jun 1996–Jun 2001 Nov 1997–Apr 2004 ME-02 Generators and Auxiliaries Jun 1996–Jun 2001 Dec 1997–Apr 2004 ME-03 Transformers and Misc. Equipment Jul 1997–Sep 2000 Oct 1999–Jul 2004 ME-04 Cranes Dec 1995–Dec 1999 Dec 1996–Jun 2004 ME-05 High-Voltage Switchgear, Sep 1996–Dec 1999 Apr 1999–Apr 2004 Control, and Protection ME-06 Medium- and Low-Voltage Switchgear Mar 1997–Sep 1999 ME-07 Elevators Feb 1998–Mar 2000 ME-08 Diesel Generating Standby Sets Mar 1997–Sep 1999 Aug 1998–Oct 2004 ME-09 Gate Equipment Dec 1995–Jan 2000 Nov 1997–Apr 2004 ME-10 Isolated Phase Bus Aug 1997–Sep 2000 Jan 1997–Jul 2004 ME-11 Switchyard Steel Structures May 1997–Nov 1999 ME-12 Cables and Accessories Oct 1996–Jan 2000 ME-13 Miscellaneous Auxiliaries Sep 1996–May 2000 ME-14 Supervisory Control and Data Jun 1996–Mar 2001 Aug 1998–Oct 2004 Acquisition and Telecommunications ME-15 Transmission Lines Aug 1997–Mar 2000 Oct 1999–Nov 2004 ME-16 Penstocks Jul 1996–Dec 2000 Jan 1999–Jun 2003 . Misc. = miscellaneous. Note: In the actual schedule, ME-06–ME-08 and ME-10–ME-13 in the original appraisal were merged in ME-03 (Transformers and Misc. Equipment) for financing by Kreditanstalt für Wiederaufbau, and ME-14 and ME-15 were redesignated as ME-08 and ME-10, respectively. 5. Project Performance Report Ratings Ratings Development Implementation Implementation Period Objectives Progress From 1 January 1996 to 31 December 1996 Satisfactory Satisfactory From 1 January 1997 to 31 December 1997 Satisfactory Satisfactory From 1 January 1998 to 31 December 1998 Satisfactory Partially Satisfactory From 1 January 1999 to 31 December 1999 Satisfactory Partially Satisfactory From 1 January 2000 to 31 December 2000 Satisfactory Partially Satisfactory From 1 January 2001 to 31 December 2001 Partially Satisfactory Satisfactory From 1 January 2002 to 31 December 2002 Partially Satisfactory Satisfactory From 1 January 2003 to 31 December 2003 Partially Satisfactory Satisfactory From 1 January 2004 to 20 January 2004 Partially Satisfactory Satisfactory v D.