The Industries, Commerce and Technical Education Department (ICTED) of KP government announced exclusive partnership with the official international contracting agency of the Government of Canada - Canadian Commercial Corporation (CCC), here on Monday.
Through CCC, Canada's largest solar energy company - Canadian Solar, present in 24 countries and is planning to invest in solar power projects up to 1000MW, starting with a 50MW solar power project using photovoltaic panels in Hattar Special Economic Zone, according to statement of Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), issued here on Monday.
It was said that this is a milestone for KP government as for the first time a Canadian government-backed company is investing CAD 100 million in the province. This will lead the way for other countries to invest in KP. According to the statement, the MoU signing ceremony was held in KP House Islamabad. KP Chief Minister Pervez Khattak, Canadian High Commissioner Perry John Calderwood, Chief Secretary Abid Saeed, Secretary Industries Farha Hamid, Chairman KPEZDMC Ghulam Dastagir, CEO KPEZDMC Mohsin Syed and high level representatives from Canadian Solar were present in the MoU signing ceremony.
It was said that the Hattar Special Economic Zone will have 50MW of electricity in first phase with additional 225MW of captive power in second stage. This MoU will be instrumental in providing much needed energy requirements to industrialist in Hattar Special Economic Zone. This will boost investor confidence and make KP desired location for investment.
The CM on the occasion said that KP government do everything in its power to promote investment, creating jobs hence reducing menace of terrorism in the province. This MoU is a testament of our progressive approach and will go a long way in development of KP. Calderwood said that the MoU signed by KP and Canadian government is a reflection of undeterred resolve of both governments to join hands in energy, trade and commerce sectors to bring prosperity in the province of KP.