ISLAMABAD, Sept 20: Japanese company Marubeni Corporation has shown keen interest in four thermal-based power projects, including 450mw Uch-II power project at Kashmore, 400mw at Faisalabad and 350mw at Chichokimalian being processed through international competitive bidding (ICB) by the Private Power Infrastructure Board, and another 450mw thermal power plant at Chichokimalian by Wapda.

The intention to participate in tenders was expressed by a six-member Japanese business delegation, headed by Kazuhiko Sakamoto, senior executive vice-president of Marubeni Corporation, in a meeting with Pakistani delegation, led by Water and Power Minister Liaquat Ali Jatoi, here on Wednesday.

The meeting was informed that Marubeni Corporation had successfully implemented and executed a number of power projects world over in a span of three decades and was interested in investing handsome capital in the power sector in Pakistan.

It was observed that the company had completed EPC projects with an aggregate capacity of about 69,000mw and was currently constructing 20 power plant projects around the world.

The company is also interested in increasing its exports of electrical equipment like generators, turbines and other machinery to Pakistan.

The company had participated in the ICB for three thermal-based projects and was confident to give a competitive and responsive bid, it was further informed.

While welcoming the Japanese delegation, the minister informed the meeting about the simplified procedure made by the government for facilitating foreign investments in Pakistan, particularly in the power sector.

The delegation was further informed that a flexible regime for foreign investment existed in the country and no procedural problem would impede them from investing in the power sector which would provide a win-win situation to the investors.

The minister said the power sector had great potential and viable future for making profitable investment in Pakistan, as the demand for power had grown at 10-12 per cent in the country.

The leader of the Japanese delegation said his company not only had good business relations with first-class contractors and customers, but also had a high-level of expertise in fields such as project finance, structured finance and risk management.

The minister assured the delegation of his full support to facilitate the company for investing in the power sector and invited the company to participate in the ICB of other power projects.