Reuters reported that Egypt's Sewedy Cables is considering investing in Pakistan's wind energy sector.

Mr Shah Mehmood Qureshi foreign minister of Pakistan said in a news conference following a meeting with Mr Hosni Mubarak president of Egypt that "We have met with the Sewedy group yesterday and they have shown interest in investing in the energy sector in Pakistan. They have expertise and technology to fulfill our requirements. There are 5 projects of 10 MW each worth USD 200 million."

Sewedy, the largest Arab cable maker by market value has said that it is looking into supplying wind energy projects in the Middle East and Africa to tap growing demand.

Pakistani diplomat Mr Nasir Ali Khan said after the news conference that Sewedy was interested in setting up a wind turbine factory in Pakistan. However as a first stage they want to put up a wind farm so that they can demonstrate the quality of their equipment and gain the confidence of many investors. The first stage is putting up 50 MW in 5 stages and eventually they might expand this.

(Sourced from Reuters)