Russian plans to invest USD 14 billion in Pakistan's energy sector

Russian plans to invest USD 14 billion in Pakistan's power sector Pakistani GOVT reported that cash-strapped Pakistan is determined to get hold of an built-in Russian funding kit of USD 14 billion for the nation's power sector, together with offshore fuel pipeline and underground storage projects
A Russian delegation headed by means of Gazprom administration Committee Deputy Chairman Vitaly A Markelov pledged to make the funding right through a fresh visit to Pakistan. The Russian groups would construct a gasoline pipeline from Karachi to Lahore to move imported fuel for meeting the needs of the Punjab province. Out of the USD14 billion, Russians would invest round USD 10 billion in an offshore fuel pipeline project, USD 2.5 billion within the North-South pipeline undertaking and the final on building underground storages in Pakistan.
Pakistan and Russian state-run entities signed inter company agreement to conduct a feasibility analyze of the USD 10-billion offshore pipeline task. The planned huge Russian investment in Pakistan is coming at a time when bilateral members of the family between Moscow and Islamabad have been warming up. Pakistan's ties with Russia have moved past the bitter bloodless conflict hostilities and the chill within the US-Pakistan family members has further pushed the nation in opposition t Russia and China.
based on the record, under this undertaking, Russian business, Gazprom, will behavior feasibility constant to construct offshore pipeline from Iran to Pakistan.
Pakistan's Minister for Petroleum Division, Mr Ghulam Sarwar Khan, appreciated the expanding trajectory of bilateral relations between Russia and Pakistan and welcomed Gazprom's pastime in off-shore gas pipeline mission and termed it a manifestation of multifaceted cooperation between the two international locations.