Australia expresses interest to invest in energy sector of Pakistan
ISLAMABAD: Australian iron ore company Fortescue Metals Group Ltd. has expressed keen interest to invest in renewable energy sector and green industry in Pakistan.
The interest was expressed by the company’s Chairman Andrew Forrest at a meeting with Prime Minister Imran Khan in Islamabad on Monday.
Andrew Forrest expressed the hope that the investment by Fortescue Group will result in creation of employment opportunities for the local community and introduction of new technology solutions for a host of industries.
The Group is a renewable energy to green industry developer, financier and operator, while it intends to invest in Pakistan to establish new technologies with zero carbon emissions, particularly Green Fertilizer and Green Steel production plants. Over the last two days, the delegation visited some of the possible sites for their ventures.
The prime minister appreciated the interest of Fortescue Group in Pakistan and assured all possible facilitation in undertaking business ventures in the country.
He highlighted economic recovery of the country in the aftermath of COVID-19 pandemic and investment friendly policies being pursued by the present government.
He underscored the government’s strategy to contain spread of virus through smart lockdowns and simultaneously reaching out to the millions of poor through government’s flagship Ehsaas Program.
Andrew Forrest appreciated the strategy adopted by the Government of Pakistan in dealing with the pandemic.
Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood said that the approach of the Fortescue Group is unique and it would result in knowledge and technology transfer to Pakistan. He added that the workforce of Pakistan is quite capable of learning and adapting to new technologies quickly and the investment would result in improving of our labor market.
Dawood underlined that the Board of Investment would act as the focal point for the Group and actively resolve any issues that may arise during different stages of materialization of their plans. He appreciated the approach of the Group for giving employment opportunities to indigenous communities, which is also a benchmark for their investment plans in Pakistan.