QUETTA, Dec 15: The Balochistan government signed on Sunday an agreement with a Korean company to set up a 300 megawatt solar power plant at a cost of $700 million.

Work on the project will start next year and complete by 2017.

Provincial Energy Secretary Fawad Hashim Rabbani and Chief Executive Officer of the Korean company Dr Choi Moon-Sok signed the agreement.

Speaking on the occasion, Balochistan Chief Minister Dr Abdul Malik Baloch expressed the hope that the power plant would help solve the energy problem in the province.

“The 300MW solar energy project will cater to the needs of industrial, agricultural, commercial and domestic sectors and boost economy,” he said.

The chief minister invited foreign investors to Balochistan and said great investment opportunities exist in the province.

The provincial government would provide all facilities and security to investors, he added.

The government has provided 1,500 acres of land near Quetta for establishing the solar power plant.