A delegation of top energy companies from Latin American countries, Canada, UAE and Saudi Arabia on Wednesday visited Pakistan Industrial Credit and Investment Corporation (Picic) and discussed investment possibilities in Pakistan. Th delegation, led by chief executive officer Brazil Energy Power Corporation Fredrico Robalinho de Barros held a meeting with managing director Picic Mohammad Ali Khoja and discussed power projects, cement plants and housing construction.
The joint venture partner of Brazil Energy Inc, Shaikh Nasir Al-Mutawa, managing director Samam International of Saudi Arabia, senior executive of MPE International Mauro Passini, chief of HLC Brasil Armando Ferreira were also present on the occasion.
Barros said that his group wanted to invest in energy in a big way and intended to set up power plants for 9,000 megawatts in Pakistan.
He pointed out that the visit of seven-nation delegation was a follow up of the visit of President Pervez Musharraf to North and South American countries, including Brazil, Argentina, Canada last year. Barros said that his company wanted to utilise the services of Picic in identifying potential areas of investment in Pakistan on the basis of its own financing in vital sectors like textile, cement, sugar, telecommunication, housing, chemicals.
The Picic chief informed them about the investment portfolio of the Corporation in vital sectors of the economy and new financial products, like leasing, housing finance, CNG, education, tourism.
He also talked about the Picic's expertise in long-term financing and said that his organisation can extend help to the North and South American business delegation in identifying areas of investment.-PR