Australian expresses interest to invest in energy sector of Pakistan

Australia expresses interest to invest in energy sector of Pakistan

September 7, 2020 | | Share:

Australian iron ore company Fortescue Metals Group Ltd. has expressed keen interest to invest in renewable energy sector and green industry in Pakistan.

The interest was expressed by the company’s Chairman Andrew Forrest at a meeting with Prime Minister Imran Khan in Islamabad today.

Andrew Forrest expressed the hope that the investment by Fortescue Group will result in creation of employment opportunities for the local community and introduction of new technology solutions for a host of industries.

The Prime Minister appreciated the interest of Fortescue Group in Pakistan and assured all possible facilitation in undertaking business ventures in the country.

He highlighted economic recovery of the country in the aftermath of COVID-19 pandemic and investment friendly policies being pursued by the present government.

He underscored the government’s strategy to contain spread of virus through smart lockdowns and simultaneously reaching out to the millions of poor through government’s flagship Ehsaas Program.

Andrew Forrest appreciated the strategy adopted by the Government of Pakistan in dealing with the pandemic.

Meanwhile, President Dr Arif Alvi says Pakistan has adopted a very liberal and investment friendly policy and foreign investors need to benefit from it.

He made these remarks while talking to an Australian delegation, led by Andrew Forrest, Founder and Chairman of Fortescue Group in Islamabad on Monday.

The President said that the investment policy of Pakistan had been designed in a manner to provide a comprehensive framework for creating conducive business environment for foreign investors.

Highlighting the potential for investment in mineral sector, the President informed the delegation that Pakistan is blessed with a lot of mineral resources and foreign investors were required to capitalize on opportunities in the mineral sector. He further informed that Pakistan had potential to produce upto 80,000 MW of Hydel electricity.

Andrew Forrest informed the President that Fortescue Group is interested to invest in Hydel energy and mineral sector. It is worth-stating that Fortescue Metals Group Ltd is an Australian iron ore company which has constructed some of the most significant mines in the world.

 

Source: Radio Pakistan

Category: Business