India, Pakistan agree for early conclusion of IPI project

New Delhi, Apr 25 (UNI) Resuming the over seven billion dollars Iran-Pakistan-India (IPI) gas pipeline project, Petroleum Minister Murli Deora and his counterpart Khwaja Asif today agreed to consult their respective governments for an early conclusion of the agreement.

Acknowledging the immense economic and strategic value of the IPI for both countries, the Ministers said it will add a new dimension to their bilateral relationship and go a long way in improving the quality of life of the peoples of the two countries.

They also discussed the bilateral issues pertaining to the 2,775 km long IPI project such as transportation tariff, transit fee, and the structure of the Pipeline Company which will execute and manage the project, a statement said.

Consensus was arrived at on the principles on which the bilateral agreement will be concluded.

The project is expected to take three to five years for its completion.

UNI RT/SBA SG PM1811