China Ready to Back Iran-Pakistan Pipeline

China has agreed to back the Iran-Pakistan natural gas pipeline and one of its leading firms is likely to participate in the construction of the pipeline.

Pakistan Today has reported that keeping this in mind the government has extended the deadline for the prequalification of the engineering, procurement, construction (EPC) and commissioning of the 785 km-long pipeline from June 8 to June 22.

The agreement was reached during a recent visit by Pakistani President Asif Ali Zardari and Minister for Petroleum and Natural Resources Asim Hussain to China, the newspaper said. 

The cost of the project on the Pakistani side is estimated at $1.2 billion. 

Pakistan was also in talks with Iran regarding the construction of the pipeline and the central Asian nation had provided positive feedback.  

Iran has already constructed more than 900 kilometers of the pipeline on its soil.