Australian iron ore company Fortescue Metals keen to invest in Pakistan

Fortescue Metals invest in Pakistan

According to a statement from the Prime Minister’s Office, on Monday, Australian iron ore giant Fortescue Metals expressed its keen interest to invest in the renewable energy sector and green industry sector in Pakistan.

The company incorporated in Australia aims to invest in Pakistan in order to establish new technologies with zero carbon emissions and especially green fertilizer and green steel production plants.

Read more: Council of Common Interests approves Renewable Energy Policy

Andrew Forrest, the chairperson of Fortescue Metals Group Ltd, a global leader in the iron ore industry as well as renewable energy and resources sector had a meeting with Imran Khan Prime Minister attended by Adviser to the PM on Commerce, Textile, Industry, and Investment, Abdul Razak Dawood, and Board of Investment (BOI) Chairperson Atif R Bokhari.

According to the PM Office, “Mr. Andrew Forrest appreciated the strategy adopted by the Government of Pakistan in dealing with the pandemic. He expressed keen interest of Fortescue Metals Group Ltd. in making investment in renewable energy sector and green industry.

Further, as per PMO twitters statement regarding Fortescue Metals interest to invest in Pakistan, “He expressed hope that the investment by Fortescue Group would result in the creation of employment opportunities for the local community and introduction of new technology solutions for a host of industries.”

Furthermore, it was informed in the meeting that the sites in the country in terms of energy sources have a lot of potential and value, it can easily sustain the industry to support the future of Pakistan. According to the statement, “Pakistan is one of the short-listed countries, which are being actively explored for investments.”

A statement added, “The investment from Fortescue will result in generating economic opportunities for local communities, employment and large-scale development of green industry for export market and domestic consumption. In addition, it will result in diversification, broadening and up-skilling of workforce in Pakistan.”

Prime Minister Imran Khan then hoped that investment of Australian iron ore giants would lead to the creation of job opportunities for locals. It will also introduce the new technology solution for host industries. He assured all possible facilitation in undertaking business ventures in the country.

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