Saudi Arabian to invest $1b in pakistan

[Arabian Legend]

ISLAMABAD: Al-Qarnain Group of Saudi Arabia has said it is planning to invest $1 billion in the areas of energy, construction, hospitality and automobiles in Pakistan over the medium term.
Group’s Chief Executive Officer Eyad Al-Baaj, in a meeting with officials of the Board of Investment (BOI), apprised the Pakistani authorities of their investment plans, according to an announcement made by BOI here on Tuesday.
He discussed with BOI Chairman Saleem H Mandviwalla and Secretary Shaikh Anjum Bashir investment opportunities in various sectors of mutual interests of Saudi Arabia and Pakistan.
Al-Baaj said the group would invest $400 million in the first couple of years and increase the investment to over $1 billion in five years. These funds would become part of foreign direct investment in Pakistan and the group was interested in investing in energy, building and construction, hotel and automobile sectors, he added.
“The group is also entering into joint venture with Pakistani cement company Dandore. Current capacity of Dandore is 350 tons a day, which will be enhanced up to 7,500 tons,” he said.
The CEO stressed that the group was aware of the energy problems in Pakistan and was interested in constructing independent power plants with production capacity of 150 to 200 megawatts. The group is also keen on producing solar panels, their installation and back-up services to consumers.
Al-Qarnain, which is one of the biggest construction groups of Saudi Arabia, has also submitted proposals for construction of low-cost housing schemes in Pakistan.
In the automobile sector, the group plans to establish a state-of-the-art assembly plant for heavy trucks and buses with a comprehensive licence from Belarus. The CEO hopes that the plant will meet domestic demand, but its main target is to export vehicles to Gulf states, African countries and other buyers around the globe.
Published in The Express Tribune, September 19th, 2012.

 

[SamranAli]

thats good but in 5 years which is too long period.

 

[Arabian Legend]

thats good but in 5 years which is too long period.

$400 millions in the first year not bad tho.


quoting from another source

He further informed that we are aware of the energy crisis in the Pakistan and our group is interested to construct IPPs with the production capacity of 150-200 MW. He further explained that to overcome the energy shortfall, the group is also interested in the production of solar panels, installation and back up services to the consumer.

Being one of the biggest construction companies of Saudi Arabia, the group also submitted proposal for the construction of low-cost housing schemes in Pakistan.

 

[Nishan_101]

ISLAMABAD: Al-Qarnain Group of Saudi Arabia has said it is planning to invest $1 billion in the areas of energy, construction, hospitality and automobiles in Pakistan over the medium term.
Group’s Chief Executive Officer Eyad Al-Baaj, in a meeting with officials of the Board of Investment (BOI), apprised the Pakistani authorities of their investment plans, according to an announcement made by BOI here on Tuesday.
He discussed with BOI Chairman Saleem H Mandviwalla and Secretary Shaikh Anjum Bashir investment opportunities in various sectors of mutual interests of Saudi Arabia and Pakistan.
Al-Baaj said the group would invest $400 million in the first couple of years and increase the investment to over $1 billion in five years. These funds would become part of foreign direct investment in Pakistan and the group was interested in investing in energy, building and construction, hotel and automobile sectors, he added.
“The group is also entering into joint venture with Pakistani cement company Dandore. Current capacity of Dandore is 350 tons a day, which will be enhanced up to 7,500 tons,” he said.
The CEO stressed that the group was aware of the energy problems in Pakistan and was interested in constructing independent power plants with production capacity of 150 to 200 megawatts. The group is also keen on producing solar panels, their installation and back-up services to consumers.
Al-Qarnain, which is one of the biggest construction groups of Saudi Arabia, has also submitted proposals for construction of low-cost housing schemes in Pakistan.
In the automobile sector, the group plans to establish a state-of-the-art assembly plant for heavy trucks and buses with a comprehensive licence from Belarus. The CEO hopes that the plant will meet domestic demand, but its main target is to export vehicles to Gulf states, African countries and other buyers around the globe.
Published in The Express Tribune, September 19th, 2012.

They should focus on energy sector like:
Bio Gas Plants
Wind Farms
Solar Farms
Hydro Electricity
Run of River based Electric Generation

This will also give them the high ROI for much longer period

 

[vK_man]

They should focus on energy sector like:
Bio Gas Plants
Wind Farms
Solar Farms
Hydro Electricity
Run of River based Electric Generation

This will also give them the high ROI for much longer period

Wind and solar are very high cost and low profit,which is why huge subsidy is required.Best alternative in terms of renewable is geothermal and hydroelectric.

 

[Masterio92]

Investments in solar panels and low cost housing are prudent and makes sense, given the high cost of getting energy & its persistent crisis, ever increasing population. Ultimately such investments are beneficial to end-consumers.... enabling them with wide choices and getting them rid of manipulated prices.

 

[Nishan_101]

Investments in solar panels and low cost housing are prudent and makes sense, given the high cost of getting energy & its persistent crisis, ever increasing population. Ultimately such investments are beneficial to end-consumers.... enabling them with wide choices and getting them rid of manipulated prices.

Yeah if EMAAR or BIN LADIN group can come in Pakistan and decided to build Appartments that are based on 110-150 Sq. yards each with 3 bedrooms and a Kitchen along with a Drawing room with a 7-11 Story building then it could be great for the people.
Such projects must be initiated in KARACHI, LAHORE and ISLAMABAD, followed by Hyderabad, DADU District, Jacobabad, LARKHANA, SUKKUR and other cities of Sindh and Punjab along with concentration in Balochistan and KPK...

 

[AZADPAKISTAN2009]

Welcomed news ,

Example cement factory from 350 to 7000 is a big capacity increase almost

Condos are ok provided existing land is cleared up , the housing that is done wall to wall should be replaced ideally its impossible but it must be done

 

[chitti]

Yeah if EMAAR or BIN LADIN group can come in Pakistan and decided to build Appartments that are based on 110-150 Sq. yards each with 3 bedrooms and a Kitchen along with a Drawing room with a 7-11 Story building then it could be great for the people.
Such projects must be initiated in KARACHI, LAHORE and ISLAMABAD, followed by Hyderabad, DADU District, Jacobabad, LARKHANA, SUKKUR and other cities of Sindh and Punjab along with concentration in Balochistan and KPK...

OK,go and order abdullah