The Chief Executive Officer(CEO) Al-Qarnain Group Eyad Al-Baaj has said that its group has planned to invest $ 400 million in the first couple of years and would increase this investment over one billion US$ in the coming 5 years. These funds would become part of the Foreign Direct investment in Pakistan. The group is interested to invest in the Energy, Building & Construction, Hotel & Hospitality and Auto Mobile Sector in Pakistan.
Eyad Al-Baaj Al-Qarnain Group, of Saudi Arabia and Dr. M. Iqbal called on Chairman Board of Investment, Saleem H. Mandviwalla here on Tuesday to discuss the investment opportunities in various sectors of mutual interests of Saudi Arabia and Pakistan. ‘The Al-Baaj Group is coming into joint venture with a Pakistani cement company Dandore. The current capacity of the Dandore Company is 350metric tons which will be enhanced up to 7500metric ton a day after this joint venture’, said by Mr. Eyad Al-Baaj The CEO of Al-Baaj Group further informed that “we are aware of the energy crisis in the Pakistan and our group is interested to construct IPPs with the production capacity of 150-200MW,”.