TAPI project: Countries agree on setting up a Company for its execution
Countries involved in the TAPI pipeline project- India, Pakistan, Afghanistan and Turkmenistan have agreed to establish a company for execution of the proposed project. They are expected to give it shape to by September 2013.
Asian Development Bank (ADB) has been appointed as legal-technical consultant, and it will soon identify a company which will drive the project. The company will be from a neutral country.
A protocol has also been inked in which the parties fixed the decision on the need to prepare founding documents and the registration of the TAPI Ltd. India has already approved setting up of a Special Purpose Vehicle (SPV) to build the TAPI gas pipeline as the multinational firms did not come forward to build the project.
Month: Current Affairs - July, 2013