The EPC Contractor, M/s Hitachi–Cobra JV, had escalated its Care & Custody claim to approximately USD 32.9 million for Pakistan and USD 28.5 million for Tajikistan, said a press release issued by the Ministry of Energy (Power Division).
ISLAMABAD, Mar 20 (DNA): Pakistan has secured a major financial success in the CASA-1000 project, saving over US$ 27 million after successfully negotiating down contractor claims.
The EPC Contractor, M/s Hitachi–Cobra JV, had escalated its Care & Custody claim to approximately USD 32.9 million for Pakistan and USD 28.5 million for Tajikistan, said a press release issued by the Ministry of Energy (Power Division).
The high-level meeting was held on March 9–10, in Ludvika, Sweden, which was attended by Additional Secretary Power Division Syed Imtiaz Hussain Shah and Managing Director of National Grid Company (NGC) Altaf Hussain.
The parties agreed to cap the total Care & Custody cost at US$ 9.0 million (shared between Pakistan and Tajikistan) up to February 2028, resulting in savings of over US$ 27 million for Pakistan, while ensuring the health, integrity, and operational readiness of critical HVDC assets during the interim period. A limited extension of up to three months beyond February 2028 has also been agreed upon, if required, subject to 5% monthly escalation.
The CASA-1000 Project, linking Central Asia with South Asia for electricity trade, has faced delays due to geo political situation in Afghanistan. Consequently, commissioning of the HVDC system is now expected by September 2027, requiring interim Care & Custody arrangements.
