Pakistan, GE sign MoU to produce 54,000 megawatts by 2020

[DaRk WaVe]

Pakistan, GE sign MoU to produce 54,000 megawatts by 2020​

ISLAMABAD: The government has signed a Memorandum of Understanding (MoU) with General Electric (GE) in the Prime Minister House to help promote the modernisation of Pakistan’s infrastructure and economy.
Saleem H. Mandviwala, Chairman Board of Investment and Nani Beccalli-Falco, President and Chief Executive Officer of GE International singed the MOU on behalf of the government of Pakistan and General Electric Company respectively.
The prime minister welcomed the initiatives of General Electric to support Pakistan’s national objective for development. He expressed the democratic government’s commitment of making Pakistan a trade, investment and financial hub.
“This is a landmark day that we have signed the MoU with one of the most renowned conglomerates of the USA, and this will certainly open another productive era of economic ties and people to people contacts,” the Prime Minister said.
The agreement focuses on the development of Pakistan’s energy resources to meet projected demand of 54,000 megawatts by the year 2020. “General Electric is helping build the energy, water, transportation and technology infrastructure of the new century,” says Nani Beccalli-Falco, President and Chief Executive Officer of GE International. “There are huge synergies between the products and services GE businesses provide in energy and infrastructure and the needs and goals of Pakistan to modernize its economy with cleaner, more efficient and better infrastructure technologies.” GE has similar agreements with a number of other governments, including Kazakhstan, Nigeria, Qatar and the province of Ontario, Canada.
The government of Pakistan aimed to meet projected energy demands using diverse sources and tactics. Possible solutions include renewable sources, such as, wind, solar, geothermal, biomass, coal, hydro and conventional thermal through gas and steam turbines, rehabilitation of existing power generation facilities, along with transfer of technology for manufacture and repair of turbines, developing more efficient and environmentally sound rail transport systems, developing water purification and reuse, wastewater treatment, and process system programs.
According to the MOU’s terms, GE would assist Pakistan in achieving its goals by engaging in Pakistan’s energy, transportation and water sectors and would work to identify potential sources of funding and explore potential investment opportunities in those sectors. Pakistan has committed to meeting with GE regularly to facilitate the goals of the MoU and provide support to the establishment and operation of the GE facilities in Pakistan, transparently and consistent with the laws and regulations of Pakistan. Pakistan would also facilitate the issuance of work permits and visas for the GE employees and contractors as needed in order to support the objectives of the signed MOU. staff report

Daily Times - Leading News Resource of Pakistan

 

[BATMAN]

Is GE going to finance this development? what is their profit?

 

[blackbriar]

no profit.GE is going to do it for charity. why is it so difficult for u guys to understand that business is done to get max profit!!they are not forcing anyone to buy their services.if u dont want it dont take it.

 

[TopCat]

This is just a MOU and nothing concrete. Dont count on it. You might get far better deal with Chinese companies than GE and at the end it will be the chinese only who will do those projects. GE cant compete here or its almost impossible. Thats why they are looking for some backdoor...

 

[BATMAN]

no profit.GE is going to do it for charity. why is it so difficult for u guys to understand that business is done to get max profit!!they are not forcing anyone to buy their services.if u dont want it dont take it.

OK thanks for the valueable info...

If we are going to pay than we are the customers and GE must compete in open tenders.