ISLAMABAD, Apr 1 (APP): In a strategic move to bolster Pakistan’s renewable energy sector, the Special Investment Facilitation Council (SIFC) has announced its facilitation of a groundbreaking initiative by Sinotec Solar Private Limited.
The endeavor entails the installation of a colossal 3 gigawatt (GW) solar panel manufacturing plant in the heart of Karachi, said PTV on Monday.
The project, set to revolutionize Pakistan’s energy landscape, heralds a new era of localized production of solar panels, significantly reducing the nation’s dependence on imports.
Sinotec Solar Private Limited, a renowned player in the global renewable energy market, is poised to not only establish the manufacturing plant but also extend support for the production of dry batteries and electric vehicle trucks, aligning with Pakistan’s green energy ambitions.
This landmark initiative is projected to inject a substantial influx of foreign direct investment (FDI) into Pakistan, marking a pivotal moment in the nation’s economic trajectory. Furthermore, the project is poised to generate a multitude of employment opportunities, fostering socio-economic growth and empowerment within the local community.
Speaking on the significance of the project, Chairman of the Special Investment Facilitation Council (SIFC) emphasized the establishment of this state-of-the-art manufacturing facility. He underscored Pakistan’s commitment to renewable energy development and self-sufficiency. “It not only strengthens our energy security but also propels us towards a sustainable future,” he remarked.
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