LAHORE: A delegation of Chinese solar company, Zonergy Corporation, met Punjab’s provincial Minister for Industries and Commerce Chaudhry Shafay Hussain at the Punjab Investment Board. During the meeting, investment opportunities in the province and special incentives for foreign investors were discussed during the meeting.
The Minister for Industries and Commerce said that a significant stride towards sustainable energy production is underway in Punjab. During the meeting, Zonergy Corporation agreed to establish a solar panel manufacturing factory in Punjab this year. This marks a significant advancement in the province’s renewable energy sector.
During the meeting, Minister Shafay highlighted the government’s commitment to fostering the manufacturing of solar panels within Punjab.
Minister Shafay briefed the delegation about the special incentives available to investors, including income tax exemption for a decade and a one-time duty-free import facility for machinery, aimed at facilitating investment in industrial estates. He also underscored the development of Garment City, spanning an expansive 2000-acre area near Lahore.
Ensuring a conducive environment for foreign investors, Minister Shafay reiterated the provision of foolproof security measures in Punjab. Several Chinese companies have already made substantial investments across various sectors within the province.
Shao Wei, General Manager of Zonergy Corporation, expressed the company’s interest in expanding its footprint in Punjab’s solar energy sector. Highlighting Zonergy’s track record, Wei referenced the successful installation of a 300-megawatt solar power plant in Bahawalpur and the company’s expertise in manufacturing inverters and batteries.
Officials from the Punjab Investment Board were also present during the meeting.
