Chinese firm plans to invest in clean energy

Will set up first manufacturing unit for inverters, batteries

ISLAMABAD:

Minister for Board of Investment, Privatisation and Communications Abdul Aleem Khan on Saturday got assurance from Chinese group Hexing Electrical that it would make heavy investment by establishing a new industrial unit, especially in the renewable energy sector.

Hexing Electrical Chairman Liangzhang Zhou, along with a delegation, met the minister for investment and informed him that it would be the first such industry in Pakistan that would manufacture inverters and batteries following injection of massive capital.

Khan, while welcoming the company's decision, stressed that there were vast opportunities for investment and substantial results could be achieved in current circumstances where business environment was among the best.

He said that investors from other countries, including China, would be ensured provision of extraordinary facilities, adding that the establishment of new factories would increase employment and exports as well as give a boost to the economy.

The minister emphasised that transfer of industries from China and the setting up of new factories on a large scale would be a very welcome step.

Assuring full cooperation to the business delegation, the federal minister remarked "Pakistan values investment from China and will take relevant ministries on board to make this step possible, for which stakeholders will also be consulted."