Russia's Rostec to Build $2.5B Gas Pipeline in Pakistan
MOSCOW, Oct 16 (Reuters) – A unit of Russian state company Rostec will build a new gas pipeline in Pakistan which will connect Karachi with the provincial capital of Lahore, Rostec said on Friday.
Rostec said that its unit, RT Global Resources, will build the pipeline with capacity of up to 12.4 billion cubic metres of gas per year, which should connect LNG-receiving facilities in Karachi with Lahore.
It added that the construction is expected to take 42 months, with the pipeline reaching its full capacity by the second quarter of 2020 and expected costs of around $2.5 billion.
Rostec's announcement came following the signing of the related government-to-government agreement between Russia and Pakistan on Friday.
(Reporting by Gleb Stolyarov; Writing by Katya Golubkova; Editing by Biju Dwarakanath)
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