Islamabad: The construction work on Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project is expected to start next month in Pakistan, according to sources.
Reportedly, Pakistan and Turkmenistan have agreed to conclude the financial closure of TAPI gas pipeline project in early 2020, an official of Petroleum Division told media. The agreement was reached during a recent meeting between a high-level delegation from Turkmenistan and Federal Minister for Energy Omar Ayub Khan in Islamabad.
Both the delegations expressed their satisfaction over the significant progress made on the financing and procurement of the multibillion dollar pipeline. It was mutually emphasised that the financial formalities of the project should be concluded in early 2020.
Sources revealed that the TAPI Company, which is working on the project, has shortlisted some European companies, among others, for developing the project.
The groundbreaking ceremony of the project has already taken place both in Turkmenistan and Afghanistan.
Construction work on the pipeline is underway in Turkmenistan, while some initial work has kicked off in Afghanistan as well.
Turkmenistan has procured funds for the project from Asian Development Bank (ADB) and the Islamic Development Bank (IDB). Additionally, some of the financing will be provided by some foreign firms on the supplier credit basis.