FAISALABAD: Three Chinese electric power firms have agreed to set up 700MW photovoltaic power project in M-3 and Allama Iqbal Industrial City of the Faisalabad Industrial Estate Development and Management Company.
The investment has been estimated to be $630 million and as per memorandum of understanding, Chinese companies would finance it while the FIEDMC would provide land on lease or equity. The memorandum of understanding was signed between FIEDMC, Henan Zhonghui Electric Power Engineering and Consulting Company and Power China Jiangxi Electric Power Construction Company, a subsidiary of Power China.
According to Board of Investment officials, the project would be completed in three phases as per the electricity demand of the special economic zones. The FIEDMC would provide estimated power requirement for both the SEZs, along with the status of infrastructure inside and outside. It was planned to adopt (build-own-lease-transfer) cooperation method which would be the first in Pakistan. Officials said the MoU would pave way for private SEZs to have their own captive power plants for uninterrupted, affordable and sustainable supply.
SAPLINGS PLANTED: Faisalabad Development Authority Director General Muhammad Suhail Khawaja planted saplings at the greenbelt in front of the FDA main office in connection with Plant for Pakistan Programme. Additional Director General Amir Aziz, Chief Engineer Shahid Mehmood, Director Town Planning Mehr Ayub, Deputy Director Admin Yasir Ijaz Chattha and other officers and staff participated in tree plantation.
