Russia to help set up energy projects in Pakistan

Someoneforyou

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Russia to help set up energy projects
Pakistan - 22 July 2011

ISLAMABAD, July 22: Pakistan and Russia are likely to establish a joint investment company to carry out projects in the energy sector, it was announced here on Friday.

Inter Rao UES of Russia may become a major player in electricity generation projects in Pakistan provided the required funds for the projects could be raised with the support of Bank VTB, said Maxim Sergeev, head of the Russian delegation, during his talks with Chairman, Board of Investment, Saleem H. Mandviwalla.

Bank VTB, formerly Vneshtorgbank, is one of the leading universal banks of Russia.

Mr Mandviwalla informed the high-powered Russian delegation that BoI was already negotiating with the Bank VTB for the availability of funds to finance energy projects in Pakistan.

Another Russian company, 'Technopromexport', which is expert in implementing power projects of any complexity on a turn-key basis, including power transmission lines and export of electricity, held negotiations with the BoI chairman to develop and run the low BTU gas power plant in Pakistan.

The BoI chairman said that upfront tariff based on various technologies and fuel would shortly be announced by the government to facilitate investors.

He briefed the Russian delegation on investment opportunities available in the private power generation.

The Russian delegation, headed by Mr Pleshin of the ministry of energy, concluded its two-day visit to Pakistan on Friday, and in a statement, the delegation pledged that Russia would extend support to Pakistan to alleviate power sector problems.

The delegation held negotiations on cooperation in the power sector with oil and gas trade sectors with high officials of the planning commission, ministries of petroleum and natural resources and water and power, PPIB, Wapda, Punjab Energy Board and local business groups.

Officials believe that the Russian support is highly welcome in the wake of severe economic crisis, mainly due to ever-increasing gap in power supply and generation which is now close to 6000MW.

Russia is likely to help Pakistan revamp and upgrade its old power stations, including at Kot Adu and Muzaffargarh, as a short-term measure in addition to construction of medium-range power generation measure to augment the power supply.

Revamping of old and inefficient high tension power transmission lines is yet another area of possible cooperation between the two countries, said the statement, adding that Russia can play a pivotal role in import of energy from the Central Asian Republics by Pakistan.



Source: The DAWN Media Group
 

Blackwater

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Russia ka dimag kharab ho gaya ha. May be Russia tharak gaya hina se
 

Tshering22

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It is getting Russians money and well that is good for their economy. How does it matter who's it is as long as it is money? Energy projects won't last very long in the Land of Pure since they have this charming ability to destroy themselves in a matter of days all over. So basically Russia just got a free financial source to make profits from. :pound:
 

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