UAE company keen to set up coal-based power plant

ABU DHABI (APP) - Abu Dhabi National Energy Company on Tuesday showed its keenness to invest in Pakistan's energy sector, particularly for setting up of a coal-based power plant in the country, which has plenty of untapped coal reservoirs. The interest was shown by Vice President of the company Abdullah Khunji, who called on President Asif Ali Zardari here at the Emirates Palace today. Abdullah Khunji during his meeting with the President had an in-depth discussion on the prospects and opportunities of investment in Pakistan with focus on energy sector. President Zardari welcomed the interest shown by the company for investment in Pakistan's energy sector and said it will help boost the already existing cooperation, collaboration and joint ventures between the two counties in this vital field. He assured the Vice President of Abu Dhabi National Energy Company that the government welcomes the foreign investors to Pakistan and will extend all possible assistance to the company in their endeavours to invest in Pakistan's energy sector. Abdullah Khunji later told Pakistani media that energy deficient Pakistan is a best market for investment in this sector and the company will soon enter the Pakistani market by launching and implementing its intended projects. Foreign Minister Shah Mahmood Qureshi was also present in the meeting. Chairman Emirates Investment Group Tariq Al Qasimi also called on President Zardari here at the Emirates Palace and discussed the global as well as the regional economic situation, with focus on the opportunities of potential of investment in Pakistan's financial sector. The President told the company's Chairman that the government welcomes and encourages the foreign investment in diverse fields of economy. Tariq Al Qasimi after the meeting told Pakistani media that their company already has its presence in Pakistan with investment in various projects and was exploring new avenues of investment in agriculture and banking sectors, as these sectors have vast potential of growth and development. He said Pakistan and UAE maintain excellent business relations and the official visit of President Zardari and his interaction with various entrepreneurs will help further strengthen these ties. Meanwhile, UAE Minister for Petroleum Mohammad Dhaen Al Halimi called on President Asif Ali Zardari here at the Emirates Palace on Tuesday and discussed the prospects of cooperation between Pakistan and the United Arab Emirates in energy and oil and gas sectors. The UAE Minister apprised President Zardari of the already existing cooperation and collaboration between the two countries in the energy sector and said the UAE government was encouraging its private sector to invest in Pakistan's oil and gas and energy sectors. President Zardari mentioned the growing energy needs of Pakistan and thanked the UAE government for encouraging its private entrepreneurs to invest in the country's various fields including petroleum and energy sectors. The President hailed the UAE investment worth US $ five billion for setting up of a refinery at Khalifa point in Balochistan and hoped the UAE private sector will invest more in joint venture projects of petroleum and energy sectors in Pakistan. He also offered Pakistan's technical expertise to UAE in energy sector development. The UAE Minister for Petroleum later told Pakistani media that during his meeting with President Zardari various areas of joint ventures in petroleum sector were identified for investment, with a wide ranging discussion on various issues of mutual interest including the prospects of investment in Pakistan in oil and gas exploration. He described his meeting with the Pakistani leader as fruitful and productive and said the visit of President Zardari will help further strengthen the already warm, close and fraternal ties that exist between the two brotherly nations since the formation of UAE. Minister for Foreign Affairs Makhdoom Shah Mahmood Qureshi, Chairman Board of Investment Salim Mandviwala, Pakistan's Ambassador to UAE Khurshid Ahmad Junejo and Ambassador at Large Javed Malik were also present in the meeting.

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