Austria offers investment in energy sector

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    Austria offers investment in energy sector
    Our Correspondent | Metropolitan > Islamabad | From the Newspaper (2 hours ago) Today
    TAXILA: Austrian Ambassador Axel Wech has said that his country was keen to invest in the hydel power and alternative energy development projects.

    Besides, he also offered technical assistance in hydropower generation to address Pakistan crippling energy crisis.

    Flanked by deputy head of Austrian mission Martin Thelen, he was talking to newsmen here on Monday after visiting Taxila Museum.

    “Immense prospects for investment and joint ventures exist in oil and gas exploration and renewable energy including wind, solar and hydro power,” he said adding that agreement of a pilot project on biomass energy had been signed with the Sindh government, whereas, opportunities in tourism sector and agriculture were being explored.

    He said that for Austria, Pakistan was perfect place for investments and joint venture in the fields of oil and gas exploration and renewable energy.

    The Austrian diplomat said that various companies of his country were already working in the energy sector in Pakistan and had also expressed their willingness to expand their businesses, while new ones are also interested in this sector.

    Austria will also provide technical cooperation in the hydel power projects, he said. Austria has the expertise in the manufacturing of hydel machinery and offered Pakistan to consider it for their mega hydel power projects, he said.

    The Austrian diplomat also said that a number of projects for strengthening Pakistan Railways infrastructure were in the pipeline and with the execution of these projects the trade relations between the two countries were expected to reach new heights.
    Austria offers investment in energy sector | Business | DAWN.COM