Faisalabad is to Own Solar Power Plant and Production Unit

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CEO of Punjab Board of Investment & Trade (PBIT) met a delegation of Korean investors and they signed a Memorandum of Understanding for the construction of a solar photovoltaic panel production plant in Faisalabad.

According to details, a plan will be devise by the Korean after which it will be send to PBIT for checking and assistance. Apart from solar panel, the company also wants to set up a solar power plant in the same city Faisalabad.

The Korean delegation comprises:

  • CEO of CK Lab Co. Ltd. Dr Choi Moon-Sok,
  • CFO of CK Lab Co. Ltd. Jin Dae Hyun,
  • Vice Chairman of Head Office KEPCO Plant Service and Engineering Co. Ltd Go Joomyeong,
  • Executive Manager Jang Byung-Won
  • Ex-Honorary Investment Counsellor of Pakistan to Korea Sooba Khan was also a part of the delegation

The representatives of Faisalabad Industrial Estate Management & Development Company were also present during the meeting and they will provide the land in Faisalabad M-3 Industrial City according to the requirement of the Korean company.

CEO of CK Lab Dr. Choi thanked the PBIT for providing them land and other facilities for construction of solar panel production plant and solar power plant.

Decreasing Pakistan’s Energy Deficit

In most areas of Pakistan, there are lots of sunny days which can make solar energy as the solution for Pakistan’s energy crisis as they don’t need fuel and cost to run the plant. But the biggest hurdle in this way is investment which can be overcome by providing foreign investment opportunities.

According to experts, the end of energy crisis will boost exports, employment and additional power production that can result in annually 2% increase in country’s GDP.

It is expected that more foreign investment will come to Pakistan as its recent market status has been changed to the ‘emerging market’.

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