Chinese group to set up inverter plant

ISLAMABAD: China’s business group, Hexing Electrical Group, has informed the government of its intention to establish a new industry in the renewable energy sector.

Chairman Liangzhang Zhou, leading a delegation, held a meeting with Minister for Privatisation Abdul Aleem Khan on Saturday, and discussed the proposed investment, and stated that it would be the first industry of its kind in Pakistan in which inverters and batteries would be manufactured with a large investment.

Mr Zhou stated that his group is present in 90 countries with over 7,000 workforce, and it has established factories in 20 states, and on the same pattern, it wants to create an office in Pakistan.

Mr Aleem Khan welcomed the Chinese company’s decision and said there are vast opportunities for investment in Pakistan, and substantial results can be derived from it in the current circumstances with the best business environment. He said that investors from other countries, including China, will be assured of extraordinary investment facilities in Pakistan.

He stated that establishing new factories would create employment and boost exports. He said that transferring industries from China to Pakistan and establishing new factories on a large scale would be a welcome step.

Published in Dawn, September 1st, 2024