Azerbaijan Wants to Invest $2 Billion in Pakistan, Senate Panel Told 

The Senate Standing Committee on Planning, chaired by Senator Quratul Ain Marri, convened to discuss the construction of the M-6 Motorway and its funding. The Chairman of the National Highway Authority (NHA) briefed the committee. Azerbaijan has expressed its intention to invest $2 billion in Pakistan. The construction cost of the M-6 Motorway is estimated at $1.2 billion. If the Islamic Development Bank provides funding for the M-6, Azerbaijan’s investment may be used for the M-10 Motorway. The M-6 Motorway will be constructed in five phases. The Islamic Development Bank has expressed interest in funding the first two sections of the motorway. The bank’s fact-finding team visited Pakistan in February, and an appraisal mission is scheduled for April. The amount of funding the bank will provide will be determined after the appraisal mission’s visit. Azerbaijan’s $2 billion investment in Pakistan will be in the form of a long-term deposit. Azerbaijan may also invest in the M-6 project in collaboration with the Islamic Development Bank. The situation regarding these investments will be clarified in April, he added. A hybrid PC-1 will be developed for the M-6 project. The project will be offered to local companies under a public-private partnership model. If the public-private partnership model is not successful, the government will complete the project itself, he further added