ISLAMABAD, Jan 17: A Brazilian company, Brazilian Energy Power Cooperation, has offered $500 million investment in establishment of 500MW power generation plant and development of infrastructure in Pakistan.
The company is also interested to set up wind generating plant in Sindh. The offer in this regard was made by an eight-member North and South American business delegation in a meeting with Federal Minister for Water and Power Liaqat Ali Jatoi here on Monday.
The delegation has arrived here after receiving a special invitation from President Musharraf during his recent official visit to Brazil. The delegation also called on President Musharraf.
Mr Jatoi welcomed the company's offer and underlined the fact that foreign investors were being greatly encouraged by the government to invest in the country's power sector to meet the future growing demands of cheaper energy and to speed up the pace of industrialization in the country.
"We are looking forward for more investment in power sector", Mr Jatoi told the delegation. The minister identified various projects including Neelum-Jehlum Hydel Power Project, Thar Coal Project and areas where such wind power plants could be executed.
He invited the delegation to avail the opportunity of participating in the bidding for these projects which were soon to be floated. Mr Jatoi informed the delegation that due to the right policies of President Musharraf and Prime Minister Shaukat Aziz, the country's economy had been put on the track of development and the environment had become conducive for foreign investment.
He assured full cooperation to assess the company to invest in the establishment of a 500MW power plant in the country and said that the government would provide all possible facilities and infrastructure to the company for setting up wind generating plant in Sindh.
The delegation, led by Ferederico Roblinho, apprised the minister about the potential of the wind generating plant in Pakistan keeping in view the future prospects for long-live generating capacity to link with the National Grid System.
The company, they said, was also interested in setting up such projects in Balochistan. The company has a vast experience in establishing power generation plants including smaller size power generation plants on fast track basis i.e. within a period of six to eight months.
During their visit to Pakistan, the delegation would sign MoUs for construction of 500MW power generation facility besides investing in field of dairy. The delegation also met the Minister of State for Privatization and Investment Umar Ahmad Ghumman.
