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Koreans offered to invest in power sector

Minister for Water and Power Chaudhry Ahmed Mukhtar has offered Korean investors to invest in the hydro, coal and wind power projects as government was determined to cooperate and facilitate the investors in all respect.

Talking to investor’s delegation of Republic of South Korea on Thursday he welcomed the delegation, appreciated their interest to invest in the power sector in Pakistan.

He said Pakistan has great potential of producing 60000 MW through hydropower generation. The private investors have been invited to invest in the identified hydel projects.

Pakistan was now focusing on indigenous resources to generate cheap electricity. The work on number of hydel power and water storage projects was in progress, he said.

The Koreans were offered to invest in 590 MW Mahal Hydropower, through ICB and also invest in 840 MW Suki Kinari hydropower, 640 MW Azad Pattan, 1500 MW Chakoti Hattian hydropower and other projects as equity and EPC contractor.

The Minister said that there is no law and order problems for investors and assured to give complete security.

He also said that the government would support the Korean investors and welcome their investment in the water and power sector projects.

Korean companies were already working in different water and power sector projects and more investors were keen to invest in the country. Koreans have expressed their keen interest to invest in hydropower and water sector projects in Pakistan and mutual cooperation in various other projects, the delegation observed.

Earlier, a detailed presentation was given by the MD PPIB on the hydel power potential, ongoing and future projects.

He said that hydel power projects of 9053 MW will be completed by 2020. The incentive based policy is profitable for investors, he added.

The meeting was also attended by Additional Secretary, Joint Secretary (water) of Ministry of Water and Power, MD, PPIB, Ambassador of Pakistan in South Korea and senior officials of the Ministry and BOI.

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