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China to invest $20b in energy sector
 
 
 
China to invest $20b in energy sector

LAHORE (HANDOUT) - Punjab Chief Minister Shahbaz Sharif and his delegation met heads of different energy companies, financial institutions, development agencies and banks in Beijing on the third day of his visit to China and discussed various proposals for investment in coal, solar and hydle power projects in Punjab.
Heavy investment in energy sector is expected in the province as a result of these meetings. The CM informed Chinese investors that solar power plant in south Punjab will start operating by the end of the current year. He said that in order to facilitate investors, the Punjab government would initially make investment in various energy projects. He said that there is a vast scope of setting up power plants operated with hydle, solar, wind and coal-fired energy, and the Punjab government is offering the best rate of profit to investors. He said that the projects to be started with Chinese cooperation would be executed with the same speed at which metro bus project was completed in Lahore.
Meanwhile, talking to media, the CM said that the agreement reached between Pakistan and China the other day in Beijing is of historic significance.
He said that under the agreement, China would make investment of billions of rupees in Pakistan and it would be the heaviest Chinese investment in Pakistan in the history of the country. He said that China has promised to invest twenty billion dollars in energy sector only to rid the people of Pakistan from load-shedding.
Shahbaz said that heavy investment by China is a proof of its confidence in the leadership of Pakistan. He said that Chinese leadership is fully aware of the fact that the reigns of the country are in the hands of those who believe in practical work and are totally sincere and committed to the nation.
Later, the CM attended a reception hosted by the Chinese Prime Minister. Speaking on the occasion, Shahbaz expressed gratitude to the Chinese PM for announcing to cooperate in the construction of motorway from Lahore to Multan.
 The visit of the CM has been greatly helpful in removing reservations of Chinese authorities and investors created during the tenure of the former government. The CM also informed the Chinese leadership and investors about the efforts made by the federal and provincial governments since coming into power for increasing electricity production.
When the CM informed in a meeting about the ruination of Nandipur power project by the previous government and its successful revival by the Punjab government, the participants were shocked to know how this power plant worth billions of dollars kept pending for three years and how it was given a new life by Chief Minister Shahbaz Sharif.
The CM with the help of photographs informed the participants that 80 percent work on the project has been completed and its first turbine will start operating from May.

 
 
on epaper page 5
 
 
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