Energy Sectors

Pakistan Invites Chinese Firms to Invest in Renewable Energy Sector

Chinese delegation interested in energy projects, especially wind corridor in Thatta.

Prime Minister Shehbaz Sharif on Thursday invited Chinese companies to invest in the country’s renewable energy sector, especially in solar power.

The PM expressed these views while talking to a delegation of Chinese state-owned company NORINCO that had called on him in Islamabad, according to a statement.

The delegation was led by vice-president NORINCO International Wang Xiaobing and CEO NORINCO International (Pakistan), Li Chen.

He recalled that it was for the first time that open bidding took place in a Government to Government (G2G) project i.e. Lahore Orange Line. He stated that negotiations were held with the lowest bidder, leading to a saving of $600 million, adding that it was a milestone in the development history of Pakistan.

Energy Sectors

The NORINCO delegation showed keen interest in investing in the wide spectrum of renewable energy projects in Pakistan, especially the wind corridor in Thatta for where a 100 MW wind power project has been proposed.

NORINCO also highlighted fibre optic along railway lines, copper and iron ore mining at proven reserves, and infrastructure development in big cities as key investment opportunities.

The Prime Minister said Pakistan is open to investment and will facilitate the process.

He stated that deepening China-Pakistan economic cooperation is critical to Pakistan’s socio-economic uplift, while highlighting the significance of CPEC as transformational project for the mutual benefit and development of both the friendly countries.

Meanwhile, Member of the Politburo of the Central Committee of the Communist Party of China (CPC) and Director of the Central Commission on Foreign Affairs of the CPC Yang Jiechi arrived on a two-day visit to Pakistan on Wednesday.

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