Saudi Company ACWA Power International to invest up to $4 billion in Pakistan

ISLAMABAD, Pakistan: The Chairman of the Saudi Company ACWA Power International Mohammad A. Abunayyan has said that his Company is looking for investment up to $4 billion in Pakistan, the Dispatch News Desk (DND) news agency reported.

In a meeting with the Finance Minister Asad Umar at the Board of Investment (BOI) in Islamabad on Sunday, the Chairman ACWA along with his delegation gave a brief description about his company and project around 12 Countries they are working in.

Mohammad A. Abunayyan added that ACWA Power realizes the potential for renewable energy in Pakistan.

In his remarks, the finance minister welcomed the delegates to Pakistan and lauded the beginning of renewed relationship between Pakistan and Saudi Arabia.

The meeting was also attended by the Minister for Power Omar Ayub Khan, the Advisor to the Prime Minister on Commerce Abdul Razak Dawood, the Chairman BOI Haroon Sharif, the Secretary Board of Investment and the Additional Secretary BOI.

Separately, the Saudi Minister for Energy, Industries and Mineral Resources His Excellency Khalid Al-Falih along with his delegation also met the Finance Minister Asad Umar in Islamabad.

The finance minister was accompanied by the Minister for Power Omar Ayub Khan.

In a twitter message, Asad Umar said that a wide range of investment projects worth billions of dollars were discussed during the meeting.

Asad Umar said that a memorandum of understanding (MoU) will be signed later in the day in the presence of the Saudi Crown Prince Mohammad Bin Salman and Prime Minister Imran Khan.

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