Prime Minister seeks Chinese investment in Energy Sector

Islamabad, June 13, 2013 (PPI-OT): A five member delegation led by Mr Wang Yitong, Chairman, China North Industries Corporation (NORINCO), called on Prime Minister Muhammad Nawaz Sharif at PM’s Office today.

The Chairman, NORINCO congratulated Prime Minister Muhammad Nawaz Sharif on the assumption of his office as the Chief Executive of the country.

The Chairman, NORINCO briefed the Prime Minister that his company is one of the 500 largest state owned enterprises in terms of assets and revenue and deals in various areas, including petroleum, mining, engineering and infrastructure projects.

The Chairman, NORINCO informed the Prime Minister that after the successful visit of the Chinese Premier Mr Li Keqiang to Pakistan, they have enjoyed special support of the Chinese government and leadership to boost business relations between the two friendly countries and undertake projects in Pakistan.

Prime Minister Muhammad Nawaz Shrif recalled that during the recent visit of the Chinese Premier to Pakistan, he had very useful and fruitful talks with him and termed the visit of a delegation from NORINCO as a testimony that these relations were being further solidified, strengthened and expanded.

While talking to the Chairman, NORINCO, the Prime Minister said that Pakistan is experiencing a severe power shortage. He invited NORINCO, which is engaged in production of solar power plants, to install solar power plants in Pakistan.

The Prime Minister said that we have vast areas in Balochistan and South Punjab which have sunshine round the year and there is ample land available for installation of solar power plants in Pakistan.

During the meeting, the Prime Minister also discussed the possibility of installation of solar energy plants in Balochistan where population is thin, scattered and at distances. This, he said, would help save laying of transmission lines which have a prohibitive cost.

The Prime Minister also offered NORINCO to look into mining and setting up of coal power plants at sites in Thar, Balochistan and Punjab where coal is available. The work on the mining and setting up of Thermal Power plants, the Prime Minister said, can be carried out simultaneously so that the power can be produced as quickly as possible.

The Prime Minister also offered NORINCO to look into the exploration of iron ore in the country.

The Prime Minister also discussed the possibilities of projects for running underground trains in Karachi, Lahore and twin cities of Rawalpindi and Islamabad in order to facilitate commuters in these cities.

The Chairman, NORINCO said that his company was serious and keen to take up projects in Pakistan. In this connection, the Chairman informed the Prime Minister that on his return to China, he would immediately despatch his team of experts to Pakistan to initiate discussions and take these ideas forward.

The Prime Minister assured the Chinese delegation that his government is ready and shall extend all possible support and cooperation to NORINCO for expediting the process so that work on these projects can start in right earnest.

The meeting was attended by Mr Mohammad Shahbaz Sharif Chief Minister Punjab, Khawaja Muhammad Asif Minister for Water and Power, Mr Ahsan Iqbal Minister for Planning and Development and senior officials of the Prime Minister’s Office.

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