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Russia ready to invest in energy sector

Russia has offered investment in Pakistan’s energy sector and offered to export up to 5000MW electricity through the Kyrgyzstan-Afghanistan route.

A high-level Russian delegation which ended its visit to Pakistan on Thursday also offered to extend cooperation in other energy-related sectors like LNG, natural gas, use of coal for power production and exploration of oil and gas.

Led by deputy minister for energy, the delegation included representatives of Russia’s major energy companies.

They held talks with Minister for Planning and Development Ahsan Iqbal and discussed Pak-Russia cooperation in the energy sector.

“We are very much encouraged with policies of the new government and the Russian investors are eager to invest in energy sector of Pakistan”, said the Russian deputy minister. Russian companies evinced keen interest in export of LNG and in oil exploration here.

Mr Ahsan Iqbal said that there was a great potential for cooperation and the government would welcome Russian investment.

Pakistan is at the centre of three major regions of growth — South Asia, China and Central Asia — which have a market of three billion people. Russian investors should take advantage of the opportunity as Pakistan possesses rich resources and offers best incentives to investors.

The government believes in transparency and has zero tolerance for corruption.

The Russian minister called for constituting a working group.

The delegation also offered cooperation in modernising thermal plants and converting them into coal-fired technology.

They offered 100 per cent technical and financial solutions for the Jamshoro and Muzaffargarh power plants and also showed interest in investing in Gaddani Power Park.

Russia is building hydro-power plants in Kyrgyzstan and Tajikistan, including a 3900MW project in Kyrgyzstan and looking for markets to export cheap electricity.

Russian delegation made an initial offer of 1000MW which would subsequently be increased to 5000MW.

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