Dutch company plans steel plant in Karachi

KARACHI: Netherland-based All Power Solution has expressed interest in setting up heavy metal steel plant in Karachi with an equity investment of $4.0 million, an official at Pakistan’s embassy in Netherland said.

All Power Solution is primarily in the business of power plant management. Netherlands is the leading exporter of machinery, electrical machinery, and mineral fuels to Pakistan.

The official said the proposal was at a preliminary stage, hence no further details could be known. However, the proposed plant would be in joint venture with a local company. “Besides, various other Dutch companies expressed keen interest in entering into joint ventures with Pakistan’s companies,” the official said.

The commercial wing maintains liaison with multinational companies in the Netherlands and makes efforts to convince them to expand their operations to Pakistan. “During interaction with Dutch companies, they have expressed interest in China-Pakistan Economic Corridor (CEPC). Details of CPEC related projects will be marketed to multinationals to attract further investment,” the official added.

The commercial wing maintains liaison with chamber of commerce in Netherland to promote the soft image of the country and Dutch companies are provided information about investment potential in Pakistan.

The recent investment of $450 million by Friesland Campina, Frisian Egg and SPAR has portrayed a very positive image of Pakistan amongst Dutch investors. Recently, Vopak has acquired 29 percent stake in Engro Elengy by making an investment of $28 million.

“The mission has facilitated more companies in exploring the opportunities, created as a result of CPEC and to let them visit Pakistan and explore the option of joint ventures with local companies,” official added.