ISLAMABAD: Russia has offered Pakistan to invest in energy sector and export 5000 MW electricity through Kyrgyzstan-Afghanistan route.
A Russian delegation led by deputy minister for energy, comprised representatives of major energy companies here on Thursday called on Federal Minister for Planning, Development and Reforms, Ahsan Iqbal and discussed cooperation in energy sector.
The delegation extended its cooperation in energy sector including import of electricity, LNG, natural gas, coal power production and oil and gas exploration.
Russian investors offered 100 per cent technical and financial solutions for the Jamshoro and Muzaffargarh power plants and also showed interest to invest in Gaddani Power Park.
Russia is building hydro-power plants in Kyrgyzstan and Tajikistan including 3900MW project in Kyrgyz Republic and looking for new markets to export cheap electricity.
Russian delegation made an initial offer of 1000MW which would subsequently be increased to 5000MW and this electricity will be available throughout the year.
Russian Companies also showed interest in export of LNG and oil exploration in Pakistan.
Speaking on the occasion, the Russian minister said that he was encouraged with policies of the government and Russian investors are eager to invest in energy sector of Pakistan.
He stressed the need for constituting a working group to tap the potential of energy cooperation between the two countries and offered cooperation in modernising existing thermal plants and shifting them into coal-fired technology.
Ahsan Iqbal informed that there was a great potential between both the countries for cooperation. “We welcome Russian investment in our energy sector. We are in the center of three major engines of growth which puts us at strategically important position,” he added.
South Asia, China and Central Asia represent a market of three billion people, he added.
The minister urged Russian investors for taking advantage of this opportunity as Pakistan possesses rich resources and offers best incentive for foreign investors.
Ahsan Iqbal said that government believes in transparency and zero tolerance against corruption for socio-economic uplift of the country.