Russian Federation has set up an office of Russian Investment Agency (RIA) in Pakistan aimed at exploring possibility of enhanced commercial and economic co-operation, it was learnt.
In this respect, a seven seven-member official delegation of the Ministry of Energy of Russian called on Saleem H. Mandviwalla, Chairman Board of Investment, to discuss the investment opportunities in power sector of Pakistan.
The possibility of establishing a joint investment company with the support of Russian VTB Bank to raise funds for energy projects in Pakistan was discussed with the representatives of Inter RAO UES CEX:IRAO.
Inter RAO UES CEX: IRAO is a Russian energy company engaged in power generation and trading. It has electricity export and import monopoly in Russia. "Inter RAO can become a major player in electricity generation projects in Pakistan provided the required funds for these projects could be raised with the support of VTB," said, Maxim Sergeev, Head of, InterRao, Russia.
Another Russian company, M/S Technopromexport, expert of implementation of power projects of any complexity on a turnkey basis: power transmission lines and export of electricity, also briefed to develop and run the Low BTU gas power plant in Pakistan.
Chairman BOI said that upfront tariff based on various technologies and fuel is being announced to facilitate investors. He also briefed the delegation on the investment opportunities available for the private power generation.
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