PM Shehbaz Sharif on Thursday welcomed Chinese company NORINCO for showing interest in investing in Pakistan’s renewable energy sector. Moreover, he expressed these views while addressing a strong delegation to the Chinese state-owned NORINCO (China North Industries Corporation) led by Deputy President Wang Xiaobing and CEO (Pakistan) Li Chen.
Energy Sector:
According to state news, the NORINCO team has shown great interest in investing in various renewable energy projects in Pakistan, particularly in the Thatta wind tunnel, where a 100 MW wind power project was proposed. Furthermore, The company also highlighted potential investment areas in fiber optic along railway lines, copper and iron mines in certified domains, and infrastructure development in major cities.
Highlighting the significance of CPEC:
The premier said Pakistan was open to investment and would simplify the process. He said deepening economic cooperation between China and Pakistan was essential to developing Pakistan’s economy while emphasizing the importance of the CPEC as a transformation project for the benefit of all countries and the development of both friendly countries.
Lahore Orange Line Metro Train project:
Prime Minister Shehbaz Sharif also thanked the company for contributing to the Lahore Orange Line Metro Train project, which he said helps hundreds of thousands of passengers in Lahore daily. However he recalled the first time open bidding took place in government to the government, i.e., Lahore Orange Line. Moreover, He pointed out that some negotiations were held with a very low claimant, which resulted in savings of USD 600 million, adding that it was a milestone in Pakistan’s development history.
Current economic crisis:
The Prime Minister thanked Chinese President Xi Jinping and H.E. Premier Li Keqiang for their unwavering support for Pakistan, especially in the current economic situation in Pakistan. However, the delegation commended Prime Minister Shehbaz Sharif for his tireless efforts to free Pakistan from the recent financial crisis.
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