ISLAMABAD: Russia has shown willingness to invest $2 billion in thecountry’s water and power sector projects, including for the Mohmand dam.
According to a report in an English daily*, *a state-run entity Inter RAOEngineering is interested in inking a government-to-government (G2G)agreement between Russia and Pakistan.
The same entity is involved in making a dam in Afghanistan on the KabulRiver.
Earlier, Pakistan and Russia had signed a $2 billion governmental agreementto establish the north-south LNG pipeline and it also reached a memorandumof understanding (MoU) for an offshore gas pipeline project.
To add to the aforementioned investments, Russia has shown readiness toinvest in water and power projects in the country.
According to sources, the representatives of Inter RAO Engineering had metwith officials of the Water and Power Development Authority (WAPDA) inNovember last year and offered to invest $2 billion.
Moreover, it conveyed its interest in investing in Mohmand Dam and theentity also held a meeting with Minister for Power Omar Ayub Khan andexpressed a desire to also invest in Jamshoro Power plant.
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The representatives of Inter RAO Engineering expressed interest to meet thewater minister, however, it was unable to take place.
The officials said the Russian state-owned entity has shown keen interestto invest in the country but has received no response.
In a separate proposal, the entity has requested Pakistan to combine fivesmall hydropower projects to implement in starting phase if the governmentisn’t willing to award big projects.
Also, it has expressed interest in investing in water and power projectswhich include 7,100MW Bulji, 2,200MW Tangus, 800MW Mohmand Dam, 52MWNauseri and 2,800MW Yulbo projects.
It has shown willingness to provide technical support and financing forthese projects, whose total projected cost is Rs318 billion.
