A Chinese company will set up a solar panel manufacturing and assembling plant in Punjab under an agreement signed with the provincial government.
Provincial Minister of Industries and Commerce Chaudhry Shafay Hussain and President of the South Pacific Region of Chinese Company AIKO, Alex Hang, signed the agreement.
The minister said on the occasion that the Chinese company will set up the first solar panels manufacturing factory in Punjab, which will supply its products in the local market and export them as well.
He said the only solution to protect the industry and homes from expensive electricity is the promotion of solar energy. He added that in the last five months, he has met representatives of 21 foreign solar energy companies. Many companies have shown interest in investing in the sector in Punjab. The government will collaborate with the companies in the solar energy sector.
Chaudhry Shafay said the Punjab government is planning to convert 7,000 tube wells to solar energy and provide solar panels free and on instalments to low-income people. A garment city being built on an area of 650 acres in Sheikhupura will run on solar energy.
The minister announced that a solar panel testing lab would be set up in Punjab.
During the ceremony, three MoUs were also signed between Chinese companies and local investors.
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