ISLAMABAD, Jun 30 (APP):Prime Minister Shehbaz Sharif on Thursday welcomed the Chinese company NORINCO for showing interest to invest in Pakistan’s huge potential for renewable energy.
He expressed these views while talking to a high-powered delegation of Chinese state-owned Company NORINCO (China North Industries Corporation) led by its vice-president Wang Xiaobing and CEO (Pakistan) Li Chen.
The NORINCO delegation showed keen interest in investing in the wide spectrum of renewable energy projects in Pakistan, especially in the wind corridor in Thatha whereby a 100 MW wind power project was proposed.
The company also highlighted the potential venues for investment in fiber optic along the railway lines, copper and iron ore mining at proven reserves, and infrastructure development in big cities.
The prime minister said deepening economic cooperation with China was critical to Pakistan’s socio-economic uplift.
He highlighted the significance of China Pakistan Economic Corridor (CPEC) as a transformational project for the mutual benefit and development of both the friendly countries.
The prime minister also appreciated the company for its role in the Lahore Orange Line Metro Train project, which, he said, was facilitating hundreds of thousands of commuters in Lahore on a daily basis.
He recalled that it was for the first time that open bidding took place in a government-to-government project i.e. Lahore Orange Line.
He stated that further negotiations were held with the lowest bidder, leading to a saving of USD 600 million, adding that it was certainly a milestone in the development history of Pakistan.
The prime minister stated that Pakistan was open to investment and that his government was taking steps to remove all impediments for further facilitation of the investors.
