 Iran’s president Mahmoud Ahmadinejad and his Pakistani counterpart Asif Ali Zardari have inaugurated the final construction phase of the multi-billion dollar pipeline project between Iran and Pakistan.
The 1,600-kilometer pipeline would enable the export of 21.5 million cubic meters of Iranian natural gas to Pakistan on a daily basis. Iran has already constructed more than 900 kilometers of the pipeline on its soil.
The United Arab Emirates Energy Minister Mohammad Bin Dha’en Al Hameli also attended the ceremony.
During a short meeting prior to the inaugural ceremony of the pipeline, Ahmadinejad and Zardari said the project would promote peace, security and progress in the Iranian, Pakistani as well as other regional nations. The project will help enhance economic, political and security ties between Tehran and Islamabad, the two leaders stressed. They also underlined the need for tapping into all of the existing capacities between Iran and Pakistan to promote the progress and welfare of the two countries.
On March 2, Zardari reiterated that Islamabad would not stop the pipeline project at any cost. The Pakistani president stressed that his government would continue to pursue the construction of the gas pipeline despite threats and pressure from the US.
Tehran-based Tadbir Energy Development Group will reportedly undertake all engineering procurement and construction work for the first segment of the project, which starts from the Iran-Pakistan border and costs around $250 million.
The Iranian firm will also carry out the second segment of the project, and extend the financing later to $500 million.
The remaining amount is expected to be generated through Pakistan’s Gas Infrastructure Development Cess (GIDC).
