Power China Jiangxi Electric Power Construction Co Ltd (JEPCC), a subsidiary of Power China and Henan Zhonghui Electric Power Engineering and Consulting Co Ltd (HZEPEC) will be setting up 700 megawatts solar power plant in Faisalabad, Punjab.

The Faisalabad Industrial Estate Development & Management Company (FIEDMC) and Power China JEPCC have signed a memorandum, which aims to facilitate setting up of a 700MW solar power plant for M3-Industrial City and Allama Iqbal Industrial City, informed Advisor to Prime Minister on Trade Abdul Razzak Dawood in a series of tweets on Friday.

“I have always been a strong proponent of providing cheap energy solutions to the industry which would make our products more competitive globally,” expressed Dawood on the development.

“Such sustainable solutions to energy requirements of our industry are vital, especially for developing Special Economic Zones and boosting industrial cooperation under CPEC,” he added.

As per details, the provisionally-estimated total investment of the project is $630 million; wherein Chinese companies will come as financers and the SEZ developer/FIEDMC could provide land on lease or to be an equity investment partner in the project.