Sindh Board of Investment invites Korean investors to invest in Coal & Wind sectors

KARACHI: Muhammad Zubair Motiwala, Chairman Sindh Board of Investments (SBI) has invited Korean investors to invest in Pakistan especially in Coal and Wind sectors. He urged Embassy of Pakistan to spread word about available investment opportunities in coal & wind sectors of Sindh.

In a meeting with Shaukat Muqaddam, Ambassador of Pakistan for Korea, who called on him at his office here, while discussing about Lotte issue of PTA, Chairman SBI told that even with current tariff structure of 3 percent, Lotte is making huge profits and any further increase would put burden on Textile industry. As a consequence, Government would be compelled to offset this burden which wouldn’t be advisable under current circumstances. Lotte interest in Cold Chain and Tourism sector were also discussed. Muhammad Zubair Motiwala asked Ambassador to use his good office for proper follow-up on the subject.

Ambassador briefed that initially it was proposed to sign MoU with Seoul or Busan which did not get materialized therefore signing of sister city MoU with Incheon is proposed. He further briefed that the MOU was planned to be signed during planned visit of President of Pakistan to Korea in Dec 2011. He enquired about the latest update on the matter and proposal about 3-member delegation’s visit to Korea for the purpose of signing this MoU. Ambassador informed about Hanwa Group interest in Solar Power Plant Project. He also requested to share details about their interest to SBI so that proper facilitation may be conducted. Chairman SBI assured full support and to provide all facilitation to them.

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