Iranian Delegation in Pakistan for Investment in Gas Pipeline Project
TEHRAN (FNA)- A delegation of Iranian oil industry experts left for Islamabad on Sunday in a bid to sign an agreement on Tehran's investment in the construction of a pipeline project which is due to take Iran's rich gas reserves to energy-hungry Pakistan.
An informed source told FNA on Sunday that "the Iranian delegation is due to sign an agreement on the payment of a $250mln loan to Pakistan to fund the project" construction of the Pakistani side of the project.
The source said that Iranian Vice-President for International Affairs Ali Saeedlou will join the delegation in the coming days.
In addition to the investment, Iran is also due to build the Pakistani part of the multi-billion-dollar pipeline.
A special team has been set up in the Iranian oil ministry to specify the method of investment and credit line for the pipeline on Pakistan's soil.
The Pakistani government has on many occasions reiterated its resolve to push ahead with the $1.5 billion Iran-Pakistan (IP) gas pipeline project.
According to the project proposal, the pipeline will begin from Iran's Assalouyeh Energy Zone in the south and stretch over 1,100 km through Iran. In Pakistan, it will pass through Baluchistan and Sindh but officials now say the route may be changed if China agrees to the project.