Russia Wishes to Invest $2billion in Pakistan

Russia

Russia has shown interest to invest $2billion in the water and power sector projects of Pakistan, which also includes the Mohmand Dam.

As per the reports in an English daily, a state-managed body Inter RAO Engineering is all interested to make a government-to-government (G2G) deal between Russia and Pakistan.

The same entity is engaged with the construction of dam in Afghanistan on the Kabul river.

Previously, Pakistan and Russia had inked a $2billion government deal for the formation of the north-south LNG pipeline and it also agreed on a memorandum of understanding (MoU) for an offshore project of gas pipeline.

For adding the above-mentioned investments, Russia has shown willingness to make an investment in the water and power projects in Pakistan.

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As per sources, the representatives of the Inter RAO Engineering had already met with the WAPDA (Water and Power Development Authority) officials in the month of November last year and has offered to invest $2billion.

Additionally, the engineering firm also showed interest to invest in the Mohmand Dam and also showed interest to make an investment in the Jamshoro power plant.

The officials informed that the Russian state-owned entity has expressed interest for making investment, but, so far has not received any response.

In a separate proposal, the entity has asked Pakistan to merge five small hydropower projects to implement in the initial phase if the government is not ready to give big project.

It has shown interest to give technical assistance and financing for the water and power projects, whose complete anticipated cost is Rs318billpon.

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