KABUL – A Turkish company agreed Wednesday to invest $1.6 billion on an electricity transmission line project involving Turkmenistan, Afghanistan and Pakistan.
The memorandum of understanding was signed between Afghanistan’s acting minister of energy and water, Mohammad Gul Khulmi, and head of Calik Holding company, Ahmad Calik at a ceremony in Kabul that was presided by President Ashraf Ghani, the Pajhwok reported.
Afghanistan and Pakistan will receive 1,000 megawatts of electricity annually from the project. Additionally, Afghanistan will receive $100 million annually in transit fee.
The 500kv power line, which will cover 750km in Afghanistan, is expected to be completed in three years.
In Afghanistan, the line will begin from Torghundi in Herat and end in Spin Boldak, Kandahar.
The Turkish firm head said his firm would first summit financial and technical proposals within six months to the Ministry of Water and Energy.
A trilateral agreement between Turkmenistan, Pakistan and Afghanistan on the project was signed in December 2015 in Ashgabat, the capital of Turkmenistan.