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BOI Chief to sign six MOU with Russian Companies and Russian National Investment Agency.

ISLAMABAD, May 10, 2011 (Balochistan Times): Pakistan and Russia are likely to sign six Memorandum of Understandings (MOUs) during the forthcoming scheduled visit of President Asif Ali Zardari to Russia. In this connection, Saleem H. Mandviwalla, Chairman, Board of Investment (BOI) is paying a brief visit to Russia to make ahead investment deals before the visit of President Asif Ali Zardari, says a statement issued by the BOI here Monday. The BOI statement said that an MOU between BOI and Russian National Investment Agency is also scheduled to be signed by him along with 5 Memorandum of Understandings with 5 Russian private/public companies including Evraz S.A Russia International, Gazprom Russia International, Lukoil Russia International, Rusal Russia International and Severstal Russia International. Chairman BOI has also issued a special note to media about the sectors of presentment to the Russian investors. The note is describing the projects and the areas of investment to make them viable are Pakistan Steel Mills - Soft Credit for expansion of project from 1.1 million MT up to 3.0 million MT per year production capacity in 3 stages. Oil & Gas Exploration and Production - Supply of equipments/ rigs, mud pump/processing plants - Technology of revival of dead wells- Line pipes projects- Advance technology for gas supplies- LNG storage terminals - LPG storage terminals. Pakistan Railways - Supply of 30,000 MT Rails Tracks - New and Refurbished Locomotives- Railway signalling system equipped by advance technology- Investment for Trains Operation on Public Private Partnership. WAPDA - Hydel Power production. - Technology for wind power- Technology for solar energy. Mining - Thar project for underground gasification - Mining of Iron Ore. - Mining of Bauxite. - Mining of Copper and others. - Supply of Mining Equipment on Credit with soft terms such as Bulldozers. Agriculture Sector - Manufacturing of Tractors-Research & Development for seeds production- Manufacturing of pesticides with modern development.-Technology for Modern cultivation. Addressing the expansion of Pakistan Steel Mill, he mentioned that an inter ministerial joint working Group for the expansion of Pakistan Steel Mills has been constituted by M/O Industries & Production. Under which the agreements/ MOUs between Russian Federation and Pakistan on economic and technical cooperation for expansion of iron & steel works (Pakistan steel mills) Karachi have been amended for signing during the Presidents Visit to Russia, the statement added

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:4EXRU
Date:May 10, 2011
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