The investment will be part of $100 million earmarked for energy sector projects in Pakistan, the ambassador said at a reception hosted by the Hyderabad Chamber of Commerce and Industry (HCCI) on Friday.
The announcement comes a day after President Asif Ali Zardari chaired a meeting with Korean companies in Islamabad to explore investment opportunities ahead of his forthcoming visit to South Korea.
The three-megawatt solar energy plant will be built at power-starved Liaquat University Hospital, Hyderabad. The hospital, biggest in the city provides healthcare services to people from adjoining cities as well.
“The two countries will sign memorandums of understanding (MoUs) to increase bilateral trade during the Pakistani president’s visit to our country next month,” Choi said.
He hoped that the volume of trade which stands around $1 billion will double in the next three to four years.
He said that Hyderabad has potential for investment in agriculture and infrastructure development projects.
On the request of the HCCI, Choi assured the business community that their visas will be processed on fast-track basis.
HCCI president Goharullah briefed the guests about investment prospects in Hyderabad and adjoining cities during the event. Director General Korean Business Centre, Karachi, BH Sung and South Korean Consul General In-Ki Lee accompanied the ambassador.
The ambassador while talking to the media underscored that the war against terrorism should continue and that Pakistan is playing the role of a front line state. When asked to comment on the recent unprovoked NATO attacks and Pakistan’s participation in the Bonn conference, Choi said it is for Pakistan and its allies to mutually decide.
Published in The Express Tribune, December 3rd, 2011.
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This is a beautiful gift from Korea. We salute you.