NEW DELHI, Aug 25: India has short-listed KPMG, Standard Chartered and Ernst & Young as its financial advisors for suggesting a project structure for execution of the $7.4-bn Iran-Pakistan-India gas pipeline project
“Out of 23 financial consultants, who applied for the job, three were qualified based on a stringent criterion. KPMG, Standard Chartered and Ernst & Young made presentations to us earlier this week and we intend to appoint a consultant by end of this month,” a top official at Petroleum Ministry was quoted as saying.
Pakistan would also appoint separate financial advisors for the same purpose, he said adding, that the two sides would converge their ideas, along with the proposal of Iran before the three nations sign the framework agreement by year end for the project to take off by early
2006.
The official was of the view that the financial advisor would be retained by India for the entire period of construction of the pipeline project even if a separate consultant is chosen by the three countries for execution of the project.—APP
