Asia

Asia

Islamabad set to complete IP gas pipeline: Pakistani official

07 March 2013 18:28 (UTC +04:00)

Baku-APA. A high-ranking Pakistani official says his country will complete the multi-billion-dollar gas pipeline project with Iran despite pressure from the United States to abandon the plan, APA reports quoting Press TV.

Speaking at a press conference in Islamabad on Thursday, Pakistan’s Foreign Ministry Spokesman Moazzam Ahmad Khan announced that President Asif Ali Zardari would be visiting Iran on March 11 for the groundbreaking of the project, English-language newspaper Dawn reported.

Tehran-based Tadbir Energy Development Group will reportedly undertake all engineering procurement and construction work for the first segment of the project, which starts from the Iran-Pakistan border and costs around USD250 million.

The Iranian firm will also carry out the second segment of the project, and extend the financing later to USD500 million.

The remaining amount is expected to be generated through Pakistan’s Gas Infrastructure Development Cess (GIDC).

The Iran-Pakistan gas pipeline, projected to cost USD1.2-1.5 billion, would enable the export of 21.5 million cubic meters of Iranian natural gas to Pakistan on a daily basis.

Iran has already constructed more than 900 kilometers of the pipeline on its soil.