A high level investment delegation from Czech Republic also witnessed the ceremony. Addressing the ceremony, the Chief Minister said Sindh was gifted with huge wind corridor which would be exploited for the energy and power generation. "Sindh is the first province to take lead in power generation through wind and it has the potential of generating 50,000MW of power through wind in coastal belt of the province," he added.
Sindh CM said that investment friendly polices of Sindh government were attracting more and more foreign investment in the province, which also reflected the confidence of inventors on the government's initiatives. Later talking to Media persons, he informed that a foreign company wanted to invest in power generation through coal in Badin district.
Minister for Finance Syed Murad Ali Shah, while briefing about the details of the MoU, said the Sindh government would execute the project, arrange the funds while Czech Republic Company would provide the required material, machinery and technology.
He further said that financing for the 50MW project power generation would be arranged before the December 31, while construction would start in January 2013. Czech Republic delegation's Head Martin Wichterle said it was a great opportunity for them to invest in power generation through wind and "we will bring more business for local industry."
He said Czech Republic wanted to enhance the business and investments opportunities in Pakistan and many other power generation projects were under consideration which would help in resolving the energy crises and bilateral co-operation in the field of trade business and investment would also get boost.
Martin Whichterle, Chairman of the Board, WIKOV Wind A.S., informed that WIKOV Wind A.S. was the subsidiary of WIKOV holdings of Czech Republic which is specialised in all kind mechanical equipment, while WIKOV Wind is specialised in wind turbine technology development, wind turbine main component assembly, developer's process actual realisation of construction of wind turbines and wind turbine monitoring, service and maintains.-PR