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US-based Company Shows Interest in Setting Up a Power Plant in Punjab

by Jawad Ali

PBIT promises complete cooperation.

A US-based energy company—Euclid Energy—is considering setting up a power plant in Pakistan’s Punjab province. The company’s President Tariq Zaheen disclosed this during a meeting with Punjab Board of Investment and Trade’s (PBIT) team on Thursday.

“We have access to huge amounts of funds from EXIM Bank, USA, and those funds can be made available for investment in various projects in Punjab,” said Tariq and added “This will prove instrumental in improving the province’s social indicators.”

PBIT’s CEO Ms. Amena Cheema said there were tremendous opportunities for foreign investment in Punjab’s energy sector and promised the delegation of PBIT’s complete cooperation in facilitating them. “The government has taken determined strides towards building up Punjab’s energy capacity under the dynamic leadership of Chief Minister Punjab,” she added.

A joint meeting of PBIT officials and officials from Energy Department was held the same day in Energy Department to discuss possibilities of investment in small solar off-grid solutions.

The PBIT team shared investment opportunities in agriculture and energy sectors as well as details of Saaf Pani Project and Grain Storage Silos projects. In addition, possibilities of investment in small solar off-grid solutions and procedures and details regarding each available project were also discussed. The team assured complete cooperation and facilitation to the delegation members and requested them to share further details of their proposal so that it could be taken up for further necessary action.

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