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Turkmenistan to Make big Investments in TAPI Project

Turkmenistan to Make big Investments in TAPI Project

Turkmenistan plans to allocate major part of investments to construction of TAPI gas pipeline, said the country’s President Gurbanguly Berdimuhamedov during a meeting of the Council of Elders.

The groundbreaking ceremony for Turkmen section of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline with the capacity of up to 33 billion cubic meters of gas was held in mid-December 2015. The total length of TAPI pipeline will be 1,814 kilometers and 214 kilometers will pass through the territory of Turkmenistan, 774 kilometers – Afghanistan, 826 kilometers – Pakistan to Fazilka settlement on the border with India.

TAPI Pipeline Company Limited has been created for constructing and commissioning the pipeline. It is comprised of gas companies of the participating countries. Negotiations continue with other potential participants. Berdimuhamedov also spoke about the main spheres in which it is planned to make big investments.

He pointed out that considerable amount of investments will be made in development of production of such expensive products as polyethylene, polypropylene and high-octane gasoline.

The president said that the volume of investments from all sources of financing will be 42.7 billion Turkmen manats ($1 = 3.5 manats) in 2017. The investment program for 2017 envisages construction of around 400 facilities, including 270 production and 130 social facilities.

Source: trend