On the sidelines of Shanghai Cooperation Organisation summit in Ufa an agreement has been signed between two nations to build 1,100-km gas pipeline from Lahore to Karachi.
KEY POINTS
- Russia will infuse $2 billion in the project whose first phase expected to conclude by December 2017
- The North-South gas pipeline project would be built by Russian company RT Global Resources
- The project will be in accordance with BOOT model (Build Own Operate Transfer).
- For 25 years pipeline will be owned and operated by the builder after that it will be handed over to the Pakistan government.
- Pipeline with a potential of 12.4 billion cubic metres p/a will connect Karachi’s liquefied natural gas (LNG) terminals with Lahore
Earlier a defence deal for the sale of 4 Mi-35 “Hind E” attack helicopters to Pakistanwas signed between two nations.
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