LAHORE, August 11 (TNS): Amid billions dollar Chinese investment being injected into Pakistan economy under CPEC, a Chinese company announced another mega project in sector of renewable energy.
According to Punjab Board of Investment and Trade (PBIT), Chinese group Sany Group, has a plan to invest $1.5 billion in the development of wind energy in Punjab province.
The group, which is one of China’s top construction machinery manufacturers, along with the Punjab Board of Investment and Trade (PBIT), is looking for sites to establish wind energy farms.
Ryan Zhao, a top representative of the company, has said the Sany Group continued to make sustainable efforts to develop business in Punjab’s emerging economy.
He said this during a visit to the PBIT where he discussed the group’s plans, status of proposed sites and further procedure to initiate projects in cooperation with the Punjab Power Development Board (PPDB).
The PBIT shared the renewable energy mapping report, prepared by the World Bank, to identify the sites for the wind power projects.
The company has already selected two sites for wind mast installation and has submitted a land application with geographical coordinators of the selected sites.