Australian Cos to invest $35m in green tech in Pakistan

Staff Report

ISLAMABAD: Australian companies will invest US $35 million in environment-friendly emission technology in Pakistan over the next seven years.

A delegation of M/S Firepower Group told Environment Minister Major (r) Tahir Iqbal on Saturday that they would invest the money in a manufacturing and blending facility that would make a petroleum additive which reduces harmful exhaust emissions by up to 70 percent, improves engine efficiency and reduces maintenance cost. The hydrocarbon-based technology is already being used in 53 countries.

The product has been extensively tested and is being used by industry, power railways, and agriculture companies worldwide and also by the armed forces of Australia, New Zealand, Russia, Thailand and Indonesia. The minister said the Australian company’s investment would benefit Pakistan not just by bringing in the green technology, but by providing jobs and new opportunities for private entrepreneurs. He said Pakistan should develop the ability to manufacture the petroleum additive. Iqbal said that the ministry was also introducing catalytic combustion technology in Pakistan.

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