ISLAMABAD (APP) - Daewoo Engineering Company of South Korea on Friday expressed interest to construct hydel, coal and alternative energy generation projects in Pakistan. A five-member delegation headed by Yong Kyung Cho had a meeting with Federal Minister for Water and Power, Raja Pervez Ashraf here on Friday. Cho said that a formal proposal with the identification of various projects will be submitted soon to the ministry for further processing. He also informed the meeting that their company has expertise to construct hydel, wind, solar, coal and other renewable power generation projects. He said that Daewoo will also take part in the five hydel projects to be awarded through International Competitive Bidding. Earlier, the Minister while welcoming the delegation said that Pakistan has close relations with South Korea. He said that Pakistan is facing energy crisis and the interest of the Daewoo for particularly construction of Hydel power generation projects will help to reduce the crisis. The Government is also focusing to construct more hydel projects to produce cheaper energy. He said that Pakistan has more than 50,000 MW hydel potential. The Minister said that their proposals for joint ventures with Wapda in various projects will be considered and the company will be facilitated at maximum. The minister also offered them to invest in the coal power projects specially those power projects of the public sector which are non-operational since long in Sindh and Balochistan. The Minister also asked Wapda to facilitate Daewoo for making possible proposals for joint venture projects. The meeting was also attended by Secretary Water and Power, Javed Iqbal, Chairman Wapda Shakeel Durrani and other senior officers. Meanwhile, Austrian Ambassador to Pakistan, Dr. Michael Stigelbauger on Friday called on Pervez Ashraf in his office and discussed various matters of mutual interest and possibilities of investment and technical cooperation in water and power sector of Pakistan. The minister briefed him on the current energy situation and the measures being taken to meet the future water and power requirements. He said that Pakistan is interested for heavy power generation machinery being manufactured in Austria for Terbela dam 4th Extension, Kurram Tangi and Diamer Basha dam projects. He said that the Austrian equipment is time tested and being used in some other public sector power projects in Pakistan. The Austrian companies will be offered to participate in the bidding process in this regard. He said that Pakistan will welcome the Austrian investment and facilitate the investors. He said that Austrian companies are already working in Pakistan in energy sector and they are keen to expand their business while the new ones are also interested in this sector. He extended an official invitation to the Minister in this regard on behalf of the Austrian Minister for Economy to visit Austria. The Minister thanked, the Austrian Ambassador and accepted the invitation to visit Austria and said that the visit will further strengthen the bilateral relations.