Three major Saudi companies are showing interest in investing in energy, steel and pharmaceutical sector in Pakistan. The chief executives of the three companies: Al-Tuwairqi, Hubco and Al-Bakri International, held three separate meetings with Caretaker Prime Minister, Mohammadmian Soomro yesterday.
According to them, Pakistan’s sound economic growth coupled with friendly policies make the country a very attractive place for foreign investments. Business Recorder reports:
Chief Executive of Al-Tawairqi M.Tariq Barlas, Chairman HUBCO Muhammad and Chief of Al-Bakri Abdul Qadir met with Prime Minister Soomro and showed interest for investment in Pakistan.
Reposing confidence in Pakistan's investment-friendly policy, CEO of Al-Tawairqi Tariq Barlas showed immense interest for making investment in the coal based power projects in Pakistan. It may be mentioned that Pakistan government plans to generate 20,000 mega watt energy through coal based and other source of generation.
Barlas appreciated the visionary approach of Caretaker Prime Minister Mohammadmian Soomro for developing alternative energy sources including coal, solar and wind to cater to the growing demands of energy sources in the country. The Prime Minister said the government appreciates investment and expansion plan of Al-Tawairqi group in producing high quality steel.
The Al-Tuwairqi Group started its business in 1977. The company specializes in trading, contacting and manufacturing building materials including space frames roofing systems, hot rolled steel products, steel Billets and electrical equipments.
HUBCO POWER is the first private power station in Southern Asia. In 1985, the Government of Pakistan with assistance of World Bank, developed a long-term energy strategy under which HUB Power station came into being. The initiation of the project started in 1986. Saudi-Arabia’s Xenel Industries was the major sponsor of the project. Headquartered in Jeddah, Xenel was founded in 1973. Among the three companies HUBCO has already invested in building gas distribution depots in Pakistan.
K. Al Bakri & Sons Holding is a Saudi conglomerate headed by President & CEO Abdulkader Al Bakri. The company conducts business in energy sector, marine sector and investment and services sector.
Useful Links:
http://www.brecorder.com/index.php?id=689342&currPageNo=1&query=&search=&term=&supDate=
http://www.altuwairqi.com.sa/index.asp
http://altuwairqi.tripod.com/
http://www.hubpower.com/
http://www.xenel.com/
http://www.albakri.com/default.asp
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