Karachi, May 10, 2012 (PPI-OT): This was stated by Mr. Zhang Hong Wei Chairman of United Energy Group (Orient Group) during the ceremony of Allotment of Land for UEP Wind Energy Project held today in the Chief Minister House. The ceremony was held on the side lines of a dinner hosted by Worthy Chief Minister Sindh in the honour of a high profile visiting Chinese delegation led by Chairman United Energy Group (Orient Group).
This meeting was held to provide allotment of land for 150 MW Wind Power Project in district Thatta and Jamshoro. This project was materialized in continuation of earlier MoU signed between the government of Sindh and UEG during government of Sindh’s visit to China in November, 2012.
United Energy Group (UEG) is one of the leading energy sector investors in Pakistan, particularly in the province of Sindh. Primary focus of UEG is on exploration and production of oil and gas. The company already has strong foothold in eight (8) districts of Sindh province. UEG’s assets consist of 9 producing and exploration blocks in Sindh and four offshore exploration blocks in the Arabian sea.
Speaking at the occasion Chief Minister Sindh said that China is a time tested friend of Pakistan and we have full confidence on companies like UEG who carry strong financial backing through its investors and principals as well as relationships with large private and government owned banks in China.
He urged the chairman to examine the possibilities of expediting he implementation for reaching the project commissioning by the middle of next year saying that such speedy implementation would be of great value to the country given the chronic energy shortages in the country. He committed continued support to UEG to attain speedy implantation.
Chairman SBI Mr. Motiwala while providing details of the project explained that the 150 MW project is only first phase of the overall plan to set up 500 MW of Wind Power in Sindh as agreed with the Government of Sindh. In the second phase a project of 350 MW will be initiated for which UEG has already signed an LOI with the Alternative Energy Development Board of Pakistan.
Chairman UEG said that we are keen to extend its business footprint in Pakistan and as a representative of Chinese people and businesses UEG views Pakistan as a brotherly country and a natural destination for Chinese investment. Pakistan on the other hand is offering investment friendly regimes and attractive returns in a range of sectors, particularly in projects that are focused towards energy security and supply.
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