Australian iron ore company keen to invest in Pakistan

Fortescue Metals Group, the world’s fourth biggest Australian iron ore producer, on Monday expressed keen interest to invest in hydropower, green fertiliser and steel production in Pakistan.

A delegation of Fortescue Metals Group, headed by its chairman Andrew Forrest, called on Adviser to the Prime Minister on Commerce and Investment Razak Dawood. Board of Investment Chairman Atif Bokhari, Secretary Fareena Mazhar, and others attended the meeting.

It was informed that the group intends to invest in Pakistan to establish new technologies with zero carbon emissions, particularly green fertilser and green steel production plants. The company is incorporated in Australia.

Pakistan had been involved in the past in a dispute with Australian company Tethyan Copper over the multi-billion-dollar Reko Diq copper and gold reserve in Balochistan. Fortescue delegation visited some of the possible sites for their ventures. It was informed in the meeting that the sites in Pakistan have a lot of potential and value in terms of energy source, which can sustain the industry to support the future of Pakistan.