Lankan president’s visit to

Pakistan to strengthen trade ties

LAHORE (Staff Reporter): Sri Lankan President Maithripala Sirisena’s visit to Pakistan would further strengthen the economic ties between the two countries and help overcome poverty challenges.  President of LCCI Ijaz A. Mumtaz said that visit of Sri Lankan president to Pakistan was an ample proof of sincere and longstanding friendship between the two countries. He said that cordial relations between the two countries should be translated into the mutual trade ties. He said that there is a vast scope for the expansion of two-way trade between Pakistan and Sri Lank in the presence of FTA between the two countries to further strengthen their multifaceted and multi-sectoral cooperation in different fields.

Punjab Industrial Expo 2015

concludes

LAHORE (Staff Reporter): Three-day Punjab Industrial Expo 2015 has concluded here at the Expo Centre, Lahore. This exhibition showcased the industrial potential of Punjab and around 150 exhibitors put up their stalls and exhibited their more than 500 products including food, engineering, electronic, daily use items etc. On concluding day, Chairman Punjab Industrial Estates Development and Management Company S.M.Tanveer said that following the splendid success of the Punjab Industrial Expo 2014, this year’s show was even bigger both in terms of turn out and the companies' participation. He met with the representatives of exhibiting companies along with delegates of many leading industrial groups on this occasion.

Tusdec completes training of first batch of 25 solar technicians

LAHORE (Staff Reporter): Technology Upgradation and Skill Development Company (TUSDEC) has completed the training of the first batch of 25 solar technicians hailing from different districts of the Punjab province, who were awarded certificates at a ceremony. In the verve of technology sophistication and skill development to uplift the local industry, TUSDEC has joined hands with Punjab Skills Development Fund (PSDF) to foster the renewable energy sector in the country. The project is being implemented under the Skills for Job 2014 -2015. The project is aimed at contemporary skills development in the discipline of Solar Technology among the disadvantaged youth of Punjab.

A company spokesman said that TUSDEC will enroll 75 candidates hailing from various districts of Punjab, including Lahore, Sheikhupura, Faisalabad, Chiniot, Sargodha, Gujranwala and Narowal, in the breakdown of three batches to be trained in the area of photovoltaics.

TGL wind power in Thatta achieves

financial close

LAHORE ( Staff Reporter): Tenaga Generasi Ltd, a wholly-owned subsidiary of Dawood Lawrencepur Ltd, has achieved the financial close of its 49.5 MW wind power project. In a ceremony held in the office of AEDB, Chief Executive Officer of Tenaga Generasi Ltd Inam ur Rahman and Chief Executive Officer of AEDB Asjad Imtiaz Ali signed the financial close documents. The project is located in Khutti Kun, Mirpur Sakro, District Thatta in Sindh and will add a minimum of 135 GWh of electricity each year into the national grid.  The total project investment of USD 119 million is financed through local and foreign lenders that include: IFC, Overseas Private Investment Corporation (OPIC), HBL and Soneri Bank Limited.

The project is expected to commence its commercial operations in September 2016.

The project will consist of 31 wind turbines from General Electric. The project company has entered into an EPC contract with China Machinery Engineering Corporation for the offshore scope (supply of imported equipment), and China East Resource Import and Export Corporation, for the onshore scope (in-country works of the project).

Investment forum for SEZs

ISLAMABAD(Staff Reporter): HBL and ICBC have jointly organised an investment forum with the help of Suzhou Municipal Government in Suzhou China to market the SEZs.  Both the banks, HBL ICBC, are working on the initiative to develop SEZs especially at Gwadar (Balochistan) and Punjab.  Secretary BOI, Iftikhar Babar and Director General, BOI, Dr. Raania attended the forum on the invitation of ICBC and Habib Bank, which was attended by more than 100 Chinese prominent investors / businessmen.  Secretary BOI, while conveying the strategic location of Pakistan has emphasised the Chinese investors to invest in free zone in Gwadar as well as in the SEZs to be established alongside China Pakistan Economic Corridor and avail the opportunity of getting access in the ME, Central Asia and African countries.