PESHAWAR, June 7: In a quest to promote new avenues of renewable energy and alternative fuels sources, and achieve sustainable urban growth in the province, the Government of Khyber Pakhtunkhwa (GoKP) on Tuesday issued three letters of intent (LOIs) to EnerTech Holding a State Owned Entity of Kuwait during a ceremony held at the Chief Minister House Peshawar. EnerTech Holding had signed multiple MoUs with the GoKP at Dubai Expo 2020 including the development and implementation of green hydrogen, urban development, food processing, and integrated tourism zones (ITZs). The ceremony was held to issue LOIs on green hydrogen and urban development projects.
The event was graced by Chief Minister Khyber Pakhtunkhwa Mahmood Khan as chief guest. Cabinet Members Taimur Salim Jhagara, Barrister Muhammad Ali Saif, Abdul Karim, Additional Chief Secretary Shahab Ali Shah, CEO KPBOIT Hassan Daud Butt, CEO EnerTech Holding Abdullah Al-Mutairi, Chairman Pak-Kuwait Investment Company Mohammad A.M. Al-Fares and other relevant officials attended the ceremony.
The Kuwaiti company will invest $250 million on establishing two green hydrogen projects on run-of-the-river hydel plants of Pakhtunkhwa Energy Development Organization (PEDO) to produce green hydrogen and green ammonia. The proposed projects sites include 84 MW Matiltan hydropower project and 69 MW Lawi hydropower project. The company will also invest $750 million to build a Satellite and Smart City at Khanpur by taking into account a range of aspects relevant to well-being, including affordability, environmental and economic impacts. The project on completion is expected to bring huge investment and generate economic activities in the province. Speaking on the occasion, the chief minister said that the Khyber Pakhtunkhwa government had signed 44 MoUs worth Eight billion dollars with foreign investment companies at recently held Dubai Expo 2020. He added that, in pursuance of MoUs, investment of Kuwait investment company in the province was laudable. The chief minister appreciated the administration of Enertech Holding, Kuwait investment company, for making huge investment in the province and said that the provincial government would extend all out support to the company. Kuwaiti investment would open new avenues of foreign investment, he added. The chief minister said that green hydrogen plants projects would prove to be a milestone in promoting environment friendly energy while establishment of satellite and Smart city would provide base for sustainable urban development. Mahmood Khan said that the provincial government was ensuring provision of all facilities and services to foreign investors under the same roof adding that there was a complete investment friendly environment in the province. ‘The provincial government is working under a well devised strategy to create job opportunities for people by promoting foreign investment in the province’, he remarked.-PR
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