ISLAMABAD, Sept 26: Am Power Company, a Kuwait-based company, intends to build 225MW combined cycle power project located at the Sundar Industrial Estate at an estimated cost of $200 million.

This was stated by representative of the company Ross Connelly in a meeting with Prime Minister Shaukat Aziz here on Wednesday.

Mr Ross apprised the premier about details of the investment to be made in the power project in Punjab. He also appreciated Pakistan’s economic policies and incentives being offered to foreign investors.

Due to high demand in energy and power sector, the premier proposed that Am Power Company could also explore possibilities of setting up additional power generation projects as well as investments in other related fields, like agribusiness, mining and oil and gas exploration.

The prime minister said successful implementation of a wide-ranging structural reforms and supportive macroeconomic policies have transformed Pakistan’s economy into a stable and resurgent one.

He said economic and political stability gained through consistency, continuity and transparency of policies and restored confidence of investors and Foreign Direct Investments (FDI) resulting in jobs creation and poverty alleviation.

He said structural reforms in many sectors, including banking, capital markets, energy, power and telecom, have attracted investment, created jobs and provided better quality services. Alongside the demographic dividends with 60 per cent young population is a very attractive feature for the long-term investors, he added.