North-South Gas Pipeline Construction in Pakistan to Attract $2Bln

© AP Photo / Vahid SalemiFILE - In this March 11, 2013 file photo, Iranian workers weld two gas pipes together at the start of construction on a pipeline to transfer natural gas from Iran to Pakistan, in Chabahar, southeastern Iran, near the Pakistani border
FILE - In this March 11, 2013 file photo, Iranian workers weld two gas pipes together at the start of construction on a pipeline to transfer natural gas from Iran to Pakistan, in Chabahar, southeastern Iran, near the Pakistani border - Sputnik International
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The total amount of investment in the construction of the North-South gas pipeline in Pakistan carried out by a subsidiary of Russia’s Rostec technologies corporation will stand at $2 billion, Russian Energy Minister Alexander Novak said Friday.

YESSENTUKI (Russia) (Sputnik) – According to the minister, a specially established consortium will raise funds for the project, however, Rostec can also invest in the venture.

"Overall amount of investment [in the pipeline construction] will be $2 billion," Novak told reporters.

Earlier on Friday, Novak and Pakistan’s Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi signed an agreement for the construction of the North-South gas pipeline from Karachi to Lahore.

The 683-mile pipeline is expected to have an annual capacity of up to 12.4 billion cubic meters of gas.

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