German company to set up
50MW solar energy project
ISLAMABAD (APP) (January 28
2010): AZUR Energy Group of Germany would set up a 50 Mega
Watt Solar project in Pakistan and a feasibility report in
this regard has already been formulated. This was told by a
German Energy Group delegation during the visit of Board of
Investment (BOI) here on Wednesday.
The delegation also called on Minister of State and Chairman
BOI Saleem H Mandviwala and discussed investment
opportunities in various sectors of economy including the
Energy sector in Pakistan.
The head of the delegation told the Minister that his
company has decided to set up 50 MW Solar energy project in
Pakistan.
He added that in this regard his company has already
conducted a survey for the execution of this project in
Pakistan.
The Chairman of AZUR Energy Group of Germany said
that his company has already prepared a feasibility
report and a ground survey is being conducted at
Multan and Bahawalpur areas and negotiations for the
acquiring of land for the project is also in
progress.
He said that in the next step the AZUR Energy Group
of Germany would bring solar energy technology in
Pakistan. Speaking on the occasion, Saleem H
Mandviwala said that Pakistan is an ideal location
for investment in various sectors including the
energy sector.
He said that Pakistan has adopted a liberal investor
friendly policy, broad features of which include,
proactive facilitation and guarantees of equal
treatment of both local and foreign investors, easy
tariff structures and a liberal regime on
repatriation of profits.
The Minister also welcomed the German delegation and
appreciated them to show their interest in Pakistan.
He highlighted the policy parameters of investment
in Pakistan.
While stressing so he underlined the policy which
allows 100pc foreign equity in the major sectors and
full repatriation of profits and dividends in all
the sectors.
It was further explained that the average rate of
return is almost 30pc and in some cases up to 50pc.
A detail presentation on investment opportunities
available in Pakistan was also made.
Saleem H Mandviwala also informed the delegation
that currently Pakistan is facing power and energy
shortage.
This area provides a prime opportunity for German
investors to look into.
The delegates were also briefed about the working of
Board of Investment being the policy maker and an
apex government agency for the promotion of
investment and a solution finder for foreign
investors.
It is the first forum where the investor interacts,
plays the leading role in facilitating the projects
with other Ministries by adopting proactive approach
BOI markets the opportunities in various sectors of
economy to the outside world.
The delegation shown their keen interest in the
infrastructure, power and energy sector.
Saleem H Mandviwala assured the German solar energy
company that government would fully facilitate and
cooperate with them in the establishment of their
project.
Courtesy: The NATION
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