The Italian infrastructure conglomerate WeBuild Group, currently spearheading construction, announced in August that work on the $2.3 billion Lot 2 is underway. By raising the dam to 1,155 meters, operators can now increase the reservoir's water level by 49 meters, significantly boosting the capacity of the two turbines already in operation. The Tajik government, which has invested over $3 billion since 2016, envisions a 335-meter-tall structure capable of generating 14,400 gigawatt hours annually—nearly 60 percent of the country's current output.

Despite the recent financial injection, the road to completion remains expensive and controversial. S&P Global Ratings estimates that Tajikistan requires an additional $5.8 billion to reach the projected 2035 finish line. While Finance Minister Faiziddin Qahhorzoda remains optimistic about achieving energy independence by 2027, the project continues to face intense scrutiny. Environmental advocates, including Eugene Simonov of Rivers without Boundaries, argue that the World Bank has lowered safeguards, leaving little leverage to protect the 50,000 residents slated for displacement or to mitigate the impact on the Amu Darya River basin.

Funding continues to diversify, with the Abu Dhabi Fund for Development providing $100 million and Italy’s Cassa Depositi e Prestiti committing $150 million. Negotiations for further support from the European Investment Bank and the Asian Development Bank remain at a critical juncture. As the government continues to allocate hundreds of millions in domestic revenue to sustain the pace, the international community watches to see if the dam will ultimately deliver on its promise of regional industrial and digital transformation.