50 Megawatt Solar Energy Project
Chief Minister Shahbaz Sharif has said in order to overcome persisting power shortage, the Punjab government will launch 50 megawatt solar energy projects in the province. He also stated that the Punjab government will buy all electricity generated in the province by the Independent Power Producers (IPPs) of Hong Kong.
He was addressing a meeting of Independent Power Producers Forum at Hong Kong on Saturday where promotion of mutual cooperation in power generation sector was discussed in detail, according to a handout.
Apprising the meeting of the power production scenario in Punjab, the chief minister said he had informed the Chinese investors during his five-day China visit about the investment prospects in the province.
He also took the Hong Kong power producers to Punjab to see the investment opportunities available in the province and signed Memorandums of Understanding (MOUs) between the two sides. The participants showed great interest in the recently discovered coal reservoirs of 235 million metric ton in Mianwali, the handout said.
The chief minister had a meeting with Asia Capital Market and Merrill Lynch Investment, Hong Kong, Managing Director Soofian Zuberi earlier.
Mr Zuberi briefed the chief minister on the global financial crisis and its impact on various countries, multinationals and particularly on the Asian and south Asian economy. He also explained in more detail the measures being taken to overcome the crisis.
The chief minister told Mr Zuberi the priorities of his government to draw foreign investments in infrastructure, power generation, meat processing, dairy development and IT industries. After that, the chief minister met the University of Hong Kong Professor John Spinks.
During the meeting, the possibilities of cooperation between the foreign varsity and the Government College University Lahore were also discussed. Prof Spinks told the chief minister that there were great opportunities for foreign students in different universities in Hong Kong.
