Chinese company to set up solar panels plant in Punjab
Business
Minister Chaudhry Shafay Hussain said this will be first solar panels manufacturing factory
LAHORE (Web Desk) - An agreement was signed between the Punjab government and Chinese solar energy company AIKO to set up the first solar panels manufacturing plant in Punjab.
According to the agreement, the Chinese company will set up a solar panels manufacturing and assembling plant in Punjab.
Minister of Industries and Commerce Chaudhry Shafay Hussain and President of South Pacific Region of Chinese Company Alex Hang signed the agreement in a ceremony held at a local hotel.
CEO Centurain Energy company Faisal Javed, Officials of Chinese company and investors participated in large numbers.
Minister of Industry and Commerce Chaudhry Shafay Hussain while addressing the event said that the Chinese company AIKO will set up the first solar panels manufacturing factory in Punjab, which will make solar panels in Punjab and will supply these panels in the local market and export as well.
He said that India is producing solar panels and is also exporting solar panels worth a billion dollars every year.
The minister said that the only solution to save industry and homes from expensive electricity is the promotion of solar energy.
In the last 5 months, I have met more than 21 foreign solar energy companies.
Many companies have shown interest in investing in the solar energy sector in Punjab.
The government will also collaborate with energy companies in the solar energy sector, Chaudhry Shafay Hussain said and added that Punjab government is planning to convert seven thousand tube wells on solar energy, the government will also provide solar panels free and in installments to low income people.
He said that a garment City is being built on an area of 650 acres in Quaid Azam Business Park Sheikhupura and the garment city will also be on solar energy, the provincial minister of industry and commerce said that we will work together to provide cheap electricity to homes and institutions.
The provincial minister announced that a solar panel testing lab would be set up in Punjab. If every department works hard, then there is no need to take a loan from any financial institution including the IMF, he concluded. Chinese company officials and local investors also addressed the ceremony, during this, three MoUs were also signed between Chinese company and local investors.
