Gas line financial close likely in 2018

ISLAMABAD: Financial close of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is expected to be achieved this year, following which construction work would start on this multibillion dollars project.

The construction work on the project will start after the completion of technical studies and achieving the financial close, which is expected to be completed during the current year, sources told APP.

TAPI Pipeline Company Limited (TPCL), the project executing company, had been jointly formed by the four TAPI parties, which appointed the consultant to undertake the pre-FID activities, including the detailed survey of the entire route, environment impact assessment studies and front end engineering design (FEED).

The sources said the procurement process for lines pipe, long lead items and appointment of engineering, procurement and construction (EPC) contractor had been started.

The company has appointed a legal counsel for rendering legal services on the agreements to be executed by the company, they added.