Russia offers to invest $2 billion in Pakistan’s energy projects

Inter RAO Engineering, a state-run Russian firm, has offered to invest $2 billion in energy projects in Pakistan including the Mohmand dam in Pakistan. Inter RAO Engineering is one of the largest Russian public energy companies. It has joint ventures with European companies like Siemens in Russia.

The Russian wants this deal to be made on the government to government basis between Russia and Pakistan. The Russian company has offered exclusive help for building Mohmand dam and is already building a dam in Afghanistan on Kabul river.

Russia and Pakistan have already signed a deal to build north-south LNG pipeline. The two countries have also signed MoU (memorandum of understanding) for an offshore gas pipeline project. After that, Russia’s state-run has offered Pakistan investment in sectors of energy and water.

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In another proposal they offered, the company has said that if the government is not ready to award big project at the moment, it can club five small hydropower projects to execute in the initial phase. The firm is prepared to invest in hydro and power projects, including 52MW Nauseri, 2,800MW Yulbo, 2,200MW Tangus,  7,100MW Buji and 800MW Mohmand dam projects.
The Russian giant is also ready to offer support in financial and technical spheres. The total cost of these projects has been estimated to be Rs 318 billion.
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