Financial Daily from THE HINDU group of publications
Wednesday, Aug 03, 2005
Financial Daily from THE HINDU group of publications Wednesday, Aug 03, 2005 |
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Industry & Economy
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Petroleum Logistics - Infrastructure Iranian team to discuss gas pipeline project today Our Bureau
New Delhi , Aug. 2 A HIGH-LEVEL Iranian delegation is meeting its Indian counterparts on Wednesday to take forward discussions on the over $4-billion Iran-Pakistan-India gas pipeline project. The project has been facing some uncertainty because of the US expressing concerns about doing business with Iran. Iran-Pakistan-India had set up two separate secretary-level joint working groups (JWG) - India-Iran special JWG and the India-Pakistan JWG to discuss financial, technical, commercial, legal and related issues to realise a `safe and secure world-class project'. Recently, a Pakistani delegation led by its Secretary for Petroleum and Natural Resources, Mr Ahmed Waqar, had visited India and in a joint statement issued by both India and Pakistan had said that the two countries would independently appoint financial consultants by September. Earlier, an Iranian technical-level delegation, accompanied by representatives from BHP-Billiton, their project consultants, who had prepared their feasibility report for the project, visited New-Delhi in June end, and made a presentation covering some technical and commercial aspects of the project. The findings of the financial advisors supported by technical and legal consultants, will be discussed at future scheduled meetings of the JWGs, which would be reviewed by minister-level interactions. It is expected that by the end of the year, the three Governments might be in a position to decide on the project structure and related technical, financial and legal aspects of the project.
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