Islamabad (Urdu Point / Pakistan Point News – 20 March 2026) Pakistan Achieved significant financial success on the CASA-1000 project, resulting in savings of over $27 million after successfully negotiating contractor claims.
The EPC contractor, M/s Hitachi-Cobra Joint Venture, has escalated its claim for care and custody to approx. US dollars A press release issued by the Ministry of Energy (Energy Department) stated that the amount was US$32.9 million to Pakistan and US$28.5 million to Tajikistan.
The high-level meeting was held on March 9-10 in Ludvika, Sweden, and was attended by Additional Secretary, Energy Department, Syed Imtiaz Hussain Shah and National Grid Corporation (NGC) Managing Director Altaf Hussain.
The parties agreed to cap the total cost of care and custody at $9.
$0 million (shared between Pakistan and Tajikistan) until February 2028, resulting in savings of over $27 million for Pakistan, while ensuring the health, safety and operational readiness of critical HVDC assets during the interim period. A limited extension of up to three months after February 2028 was also agreed upon, if necessary, subject to a 5% monthly increase.
The CASA-1000 project, which connects Central Asia to South Asia for electricity trade, has faced delays due to the geopolitical situation in Afghanistan. Therefore, the HVDC system is now expected to be operational by September 2027, requiring temporary care and custody arrangements.