Korean firms keen to transfer solar technology

LAHORE: Korean investors on Monday signed a memorandum of understanding with the Punjab Board of Investment and Trade (PBIT) for the establishment of a solar module fabrication facility in the Punjab.

A group of Korean investors visited the PBIT to sign the MOU. It was agreed that CK Solar, a Korean company, will send its work plan to PBIT for facilitation and servicing. The company also desires to establish solar power generation plant in Punjab.

CK Lab Co Ltd. and CK Solar Co. Ltd. are both public limited companies that want to establish a CK-Si-PV solar module fabrication business in Faisalabad M-3 City. Amena Cheema, chief executive officer at PBIT informed the delegation about the value propositions offered by the Punjab. She also briefed the delegation on opportunities and prospects offered by the Punjab for establishing their manufacturing facility.

Cheema introduced them to the representative of the Faisalabad Industrial Estate Management and Development Company that will offer them developed land in Faisalabad M-3 Industrial City.

Choi Moon-Sok, chief executive officer at CK Lab expressed his gratitude to the PBIT for providing facilitation for the acquisition of land and described their plant and technology to PBIT. He thanked PBIT for its efforts during the last few months to respond to their queries and assist them in making informed decisions.

Pakistan’s endemic energy crisis blamed on years of mismanagement is crippling the economy and making millions of lives miserable. Electricity shortfall exceeded 4,000 megawatts.  Experts say if the energy deficit is addressed, the country could increase its GDP by as much as two percent annually through additional production, exports and employment.

The government wants promotion of foreign investment in various sectors including solar energy sector and for this purpose, a comprehensive policy has been chalked out to provide maximum facilities to foreign investors.