RIO DE JANEIRO, Nov 28: A Brazilian consortium and a Pakistani-Canadian company, signed a $500 million agreement for the development of energy and infrastructure projects in Pakistan.

The signing ceremony, which took place during the President's visit to Brazil, was attended by Minister of State for Privatization Umar Ahmed Ghumman. The agreement is focused on the establishment of wind energy project for 500-MW power generation, and development of infrastructure.

The agreement represents very significant investment in Pakistan by foreign private sector companies. The agreement was signed by Frederico Robalinho de Barros and Jesus Ferreira Filho of Brazil Energy Power Corporation and MPE Group, the two companies representing the Brazilian consortium, and Abdullah Hashwani of Hashwani & Son.

MPE Group is a company involved in turn-key projects in various sectors, including petroleum, steel, ports and engineering in Brazil and several countries. The ceremony was covered by media outlets indicating positive interest about investment opportunities in Brazil. -APP