The Water and Power Development Authority (WAPDA) signed an agreement for the HM-1 Contract of the Diamer Basha Dam Project during a ceremony at WAPDA House. Arif Ali signed the document on behalf of WAPDA, while Ling Jianke acted as the authorised representative for the Power China – IKAN Joint Venture (JV).

The contract, valued at Rs. 133.18 billion, was awarded to the Power China – IKAN JV. This specific work involves the manufacturing, supply, and installation of hydraulic steel structures and gates designed to regulate water flows.

Engineers will install the equipment at the dam's outlets, power intakes, and flushing tunnels on both the left and right banks. Additional components of the deal include pumping systems, hoisting systems, steel lining, and related electrical works.

Located across the River Indus, the Diamer Basha Dam sits 40 km downstream from Chilas town. The project will provide a gross water storage of 8.1 MAF and an installed power generation capacity of 4500 MW once finished.