MoU | China to invest 2 Billion USD in PUNJAB
Daily waqt dated January 11, 2014
Showing posts with label MOU. Show all posts
Showing posts with label MOU. Show all posts
Saturday, January 11, 2014
Sunday, July 28, 2013
Power generation: Punjab government, China to invest in Balochistan
Power generation: Punjab government, China to invest in Balochistan
LAHORE: The government of Punjab has signed a Memorandum of Understanding (MoU) with China Power International (CPI) Holding Limited, a private company, to generate 2,400 megawatt (MW) electricity in Pakistan within the next two to three years.
Speaking to the media, Punjab Chief Minister Shahbaz Sharif said that the MoU was pure investment through which two partners will establish four coal-fired power plants. The plants, which will be set up in the Gadani area of Lasbela district, will produce 600MW each.
Sharif said that coal will be imported to Gadani and the 2,400MW will be shifted to the National Grid Station to distribute power across the country. He said that the MoU was signed within 25 days after he along with Prime Minister Nawaz Sharif had called on the management of CPI during their China visit.
The Punjab chief minister said that the first plants producing 1,200MW will be finalised in two years and the next two in 48 months.
Sharif did not disclose how much was being invested by Punjab and CPI Holding, but said that his government had a “little share”.
When asked if the Balochistan government had been taken on board for the project, the Punjab chief minister replied in the affirmative and said that the people of the province should be happy as China and the Punjab government were making a big investment in Balochistan. He also said that all issues related to the project will be dealt with according to the constitution.
Balochistan is considered to be unsafe for Chinese engineers. The area of Gadani is roughly one hour drive from Karachi and has a Baloch population of roughly 20,000 people.
CPI Holding Limited is a holding company operating through the China Power International Development Limited subsidiary, which owns and operates power generation, transmission, and supply plants. The company is based in Wanchai, Hong Kong.
Friday, July 26, 2013
Punjab signs MoU to set up manufacturing plant of solar panels
Punjab signs MoU to set up manufacturing plant of solar panels
LAHORE: A Memorandum of Understanding (MoU) regarding solar development project was signed between the Punjab government and an international consortium of five countries, including Switzerland, Germany, Italy, Austria and Pakistan, at the Chief Minister’s Office, here on Wednesday.
Punjab Chief Minister Muhammad Shahbaz Sharif, Energy Minister Sher Ali Khan, Secretary Energy and senior officials of departments concerned were also present.
Secretary Energy Usman Bajwa and Chief Executive Officer and Group Chairman of Swiss Company STCS AG Rainer Kertess signed the document on behalf of the Punjab government and the international consortium. respectively. Under the agreement, the international consortium would set up a plant of assembling and manufacturing of solar panels, solar cells and batteries in Faisalabad. The consortium would also consider the project of setting up 400 solar power projects each near industrial zones in Faisalabad, Sialkot, Gujranwala and Lahore while a 150-megawatt power plant would be set up along the motorway from Pindi Bhattian to Faisalabad.
The consortium will also introduce solar pumps for agriculture sector in Punjab, street lights in big cities of the province and those installed at Ring Road will be gradually converted to solar power. The consortium will also consider introduction and implementation of zero energy building system for large buildings besides evolving a project of supply of off-grid energy to industrial zones.
Speaking on the occasion, Chief Minister Shahbaz Sharif welcomed the signing of the agreement between the Punjab government and international consortium and said that measures would be taken for the early implementation of the agreement in a transparent manner. He said that the Punjab government would provide all possible facilities to the international consortium. He said that nothing could be more important than solution of energy crisis, he said, therefore the Punjab government was implementing a comprehensive programme of encouragement of foreign investors.
The croup chairman of the consortium said that his group was interested in making heavy investment in solar energy sector in Pakistan, especially Punjab and the agreement would promote investment in the province.
Earlier, representatives of the international consortium met the chief minister and gave him a briefing on cooperation in solar energy sector.
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