ISLAMABAD, Jan 19: Switzerland intends to invest $100 million for setting up a maize-based ethanol plant near Port Qasim for export of ethanol to international destinations by enhancing adequate availability of fuel-grade ethanol locally, besides exploring various other options for investment in oil and gas sector in Pakistan.
This was stated by Mr Gilbert Brunner, managing director, Fair Energy, Switzerland , during his meeting with the Senate chairman, Mohammedmian Soomro, here on Friday at the Parliament House. Mr. Brunner is currently visiting Pakistan with a delegation of Swiss investors.
The chairman Senate said: "The demand for energy is increasing to sustain the growth momentum in the economy and it is imperative to look for alternate sources of energy in the backdrop of high petroleum prices."
While assuring the delegation of all-out support in setting up the prospective plant, the chairman advised its members to coordinate with the Board of Investment and Planning Commission officials to work out details.
He said that the idea of blended fuel is an innovative one and certainly worth a try.
The leader of the Swiss delegation said they were particularly impressed by the policy of privatisation and opening up of economy to foreign investors and entrepreneurs in Pakistan.
Later, the managing director, Shell Pakistan Limited, Mr. Zaiviji Ismail Bin Abdullah, and Mohammad Shahani bin Baba of Kumplan SPL Development SDN, BHD Dar-ul-Ehsan Malaysia also called on Chairman Senate, and discussed investment prospects in petroleum, housing and health sectors.
The leader of the Malaysian investors delegation, Mr. Mohammad Shahani bin Baba said they were currently exploring the possibility of setting up a health city in the country, having a medical university, hospital with state-of-the art facilities.
He said their country is also interested in real estate and housing sectors, particularly to cater to the needs of fixed and low-income groups.
The chairman Senate said that the country was currently facing a shortage of six million units and it is desperately trying to remedy the situation by securing additional investment.