Iranian company to set up 1,000 MW wind energy in Pakistan

This was disclosed by Ahmad Fasihi, Iran’s Commercial Counsellor in Karachi at a meeting with members of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Wednesday.

In addition, Iranian companies can also assist Pakistan in constructions of highways, railways, bridges, huge building complexes, grain depots and dams. Joint ventures in these fields could be fruitful for both countries. Pakistani investors can participate in various projects, including buying or starting private banks in Iran, he said adding that with the launch of an Iranian bank in Pakistan and vice versa could help bi-lateral trade reach USD three billion yearly.

Iran has a great potential in the technical service sector relating to installation and exploration of energy power plants, which could assist Pakistan in over-coming power shortages, he said. Fasihi said that with the efforts of its commercial office in Karachi, a trade delegation from Hamadan province headed by President of Hamadan Chamber of Commerce and Industry and Mines and another trade delegation from Fars province (Shiraz), headed by its president are expected to visit Pakistan early next year. Similarly, a trade delegation from Pakistan is expected to visit Kermanshah and Kordistan provinces in Iran.

Earlier Tariq Sayeed, Chairman, Pak-Iran Business Council of FPCCI appreciated the efforts of Iran’s Commercial Counsellor in Karachi in arranging exchange of different trade delegations to both the countries which resulted in signing of agreement in various fields and increased mutual (non-oil) trade volume from $350 million in the last four years to $800 million in the previous year and it is expected that the trade volume would exceed $1 billion in the current year as a result of 45 percent increase in bi-lateral transactions.