Two Korean Companies have agreed to set up a solar module fabrication business and a plant in Faisalabad.
A Memorandum of Understanding (MoU) was signed at the CEO Punjab Board of Investment and Trade (PBIT) Office Lahore on Monday. As per the agreement, CK Lab Co. Limited and CK Solar Co. Limited, two public sector Korean companies will develop a CK-Si-PV(tm) solar module fabrication business in Faisalabad. The Faisalabad Industrial Estate Management and Development Company has agreed to provide them land in the Faisalabad M-3 City.
Ms. Amena Cheema, CEO PBIT, and the Ex-Honorary Investment Counselor of Pakistan to Korea Sooba Khan were also present on the occasion.
Ms. Amena Cheema welcomed the delegate and briefed them about different investment opportunities present in Punjab. The delegate was also introduced to the representatives of Faisalabad Industrial Estate Management and Development Company.
The delegate of Korean investors, led by CEO of CK Lab Co. Ltd. Dr Choi Moon-Sok, consisted of CFO CK Lab Co. Ltd. Go Joomyeong and the Vice Chairman Head Office KEPCO Plant Service and Engineering Co. Ltd.
Dr Choi Moon-Sok addressed the ceremony and communicated felicitations on the part of the Korean delegate. He explained the project and thanked PBIT for its cooperation.
To quote The Wall Street Journal, Pakistan is a star pick for foreign investments. It has attracted pretty decent investments from the foreign public, as well as private sector enterprises. Recently, a Chinese firm agreed to develop a glass plant at Balochistan.