LAHORE: An agreement was signed between Punjab government and prominent Chinese company in energy sector, ZTE, for cooperation in setting solar power plant, on Sunday.
Chief Minister Punjab Muhammad Shahbaz Sharif, secretary Energy, President of Chinese company Yu Yong and other officials were present. Secretary Energy and Vice President of ZTE signed the document. Under the agreement, the Chinese company will set up a 500 megawatt solar power plant. Initially, the Chinese company will establish a 300 megawatt solar power plant which will later be extended to 500 megawatt capacity.
ZTE will set up solar power plant in Quaid-e-Azam Solar Park Cholistan and the project will be completed within a year. Punjab government will extend all out assistant and facilities to the Chinese company for this purpose.
Addressing the ceremony, Chief Minister Muhammad Shahbaz Sharif said that PML-N government was taking speedy measures for resolving energy crisis and agreements were being reached with several Chinese companies for launching power generation projects while steps would be taken expeditiously for their implementation.
He said the arrival of Chinese companies and investors to Pakistan after the visit of Prime Minister Muhammad Nawaz Sharif to China was a good omen and investment by Chinese companies and investors in energy sector augurs well. The chief minister said five memorandums of understanding were signed with Chinese company, China Harbour Engineering on Saturday for cooperation in energy and infrastructure sector while an agreement had been reached with ZTE for setting up solar power plant.
He said PML-N government made solution of energy crisis its top priority and steps were being taken on war footing for resolving this matter. President ZTE, Yu Yong said all out cooperation will be extended to Pakistan in energy sector and rapid progress will be made towards implementation of the agreement.
In another handout, Shahbaz Sharif said that the energy crisis had left a negative impact on economic and trade activities and the government was taking measures on war footing from the very first day for resolving this problem.
He said that electricity was essential for foreign investment and prosperity of the country. He said that Punjab government had evolved a comprehensive roadmap for the speedy implementation of power generation projects and rapid progress was being made in this direction.
He said that foundation stone of Quaid-e-Azam Solar Park to be set up over an area of 7,500 acre in Cholistan would soon be laid, which would not only bring about a revolution in solar energy sector but all out facilities will also be available to foreign investors. pr