TEHRAN - The construction of the Iran-Pakistan gas pipeline will begin in the near future, the Pakistani ambassador to Tehran announced on Wednesday.
Ambassador Khalid Aziz Babar said that an Iranian company will start the construction operations soon and the project is scheduled to be completed by December 2015, the Fars News Agency reported.
On November 22, during a trip to Pakistan, Iranian President Mahmoud Ahmadinejad emphasized the need to complete the Iran-Pakistan gas pipeline on schedule.
The Iran-Pakistan gas pipeline, projected to cost $1.2-1.5 billion, will export 21.5 million cubic meters of Iranian natural gas per day to Pakistan when it comes on stream.
Iran has already constructed more than 900 kilometers of the pipeline on its territory.
The Islamic Republic of Iran has offered to give Pakistan a $250 million loan to help finance the project.
Iran has pledged to secure $500 million to complete the Pakistani section of the project and the rest will be provided by the Pakistani government.
Iranian and Pakistani companies plan to form a joint venture to finance the project.
According to the project proposal, the pipeline will begin in the Assalouyeh Energy Zone in southern Iran and stretch over 1,100 kilometers through Iran. In Pakistan, it will pass through Balochistan and Sindh provinces.
Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader