| GEO Business|
| Kazak companies keen to invest in Pakistan|
| Updated at: 0730 PST, Wednesday, February 18, 2009|
ISLAMABAD: A delegation from Southern Companies Group Kazakhstan here on Tuesday visited Board of Investment to discuss issues related to investment in various sectors of economy.
The delegation, led by Igor Tomas, President of the Group, is visiting Pakistan to explore investment opportunities in power, oil and gas as well as energy conservation sectors.
The delegation members included Companies’ General Manager, Ms. Natalya Badenova and its Director Marketing, Yedge Yessen Kuov.
The delegation interacted with BOI senior officials, including Iqbal Ahmad and Riaz Ul Haq Executive Director Generals as well as with the senior representatives of Ministry of Petroleum and Natural Resources, PPIB, Alternative Energy Development Board and National Energy Conservation Centre.
The delegation was apprised about tremendous potential in the energy sector due to the seriously worsening gap between energy supply and demand, non-sustainability of fossil fuels (limited oil and gas reserves), unpredictability of oil prices, lack of energy conservation culture and huge renewable hydel and wind potential.
It was further informed by ENERCON that estimated saving potential for Pakistan through energy efficiency is US $ 2 billion annually.
While referring to the opportunities in hydel and coal for private sector, PPIB representative informed the delegates that so far only around 6,000 MW has been tapped from an estimated potential of 45,000 MW for the development of small, medium and mega Hydropower projects.
Also Pakistan’s Thar Coal Reserve are estimated at about 175 billion tons, which are still untapped.
The delegation members expressed their keen interest to invest in all major areas related to energy sector as there is huge potential and committed to visit in March this year to have basic assessment of opportunities and research completed in consultation and collaboration with the concerned ministries and departments.