ISLAMABAD (APP) - Pakistan and Iran on Wednesday signed a joint declaration for further bilateral cooperation in power sector and to expedite the implementation of the existing projects. Iranian Deputy Minister of Energy Abbas Aliababi and the Advisor of the Ministry of Water and Power signed the declaration. Both the countries also agreed to establish a monitoring committee at Ministerial level to fix the time lines for the completion of the projects, remove the impediments and to take remedial measures in this respect. It was also agreed that the transmission line for import of 1000MW will be completed by an Iranian company by the end of 2009. It was also agreed that while carrying out the feasibility study for the transmission line of import of 1,000 MW from Iran, a provision for transmission of additional 1,000 MW will also be kept in view. Iranian Deputy Minister and Managing Director of Pakistan Electric Power Company (PEPCO), Fazal Ahmed Khan were nominated as focal persons from their respective countries for implementation of the agreed and existing projects. A high level delegation of Islamic Republic of Iran headed by Engr. Parviz Fatah, the Minister of Energy during visit to Pakistan held meeting with Minister for Water and Power, Raja Pervez Ashraf. The meeting took note of slow pace of progress on two projects namely import of 100 MW of power for Gwadar Port construction of transmission line and feasibility study for 1000 MW transmission line between Zahidan (Iran) and Quetta (Pakistan). The Iranian side made an offer that a dedicated gas based power plant of 1000MW capacity near Zahidan can be made available for export of power to Pakistan in addition to the earlier agreed 1000MW. Pakistan side explained that there are attractive investment opportunities in water and power sector with liberal incentives provided to the investors. The projects which were identified included hydropower projects with a total capacity of about 16000 MW requiring an investment of $26 billion by 2025. Pakistan also pointed out projects for investment included coal power projects with a total capacity of about 6000 MW by 2015 requiring an investment of $7 billion, projects of alternate energy for generation of about 1000 MW by 2015 and rehabilitation and reinforcement of T&D system and system for dispersal of power of new generating plants requiring an investment of about $4.7 billion. The Iranian side showed keen interest in all projects and assured Pakistan side to look into the prospects of investment in the projects by the Iranian companies both in public and private sector. It was agreed that the government of Iran will support 130MW Sehra Hydropower project which is being developed by an Iranian Company, M/s Farab.