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Chinese company wish to invest in Gwadar, Lahore

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BEIJING: Prime Minister Imran Khan interacted with a variety of Chinese state-owned and private companies which expressed their desire to establish $3.5 billion reprocessing parks in Gwadar and a $350 million textile cluster near Lahore, on Friday.

Special Assistant to Prime Minister on China Pakistan Economic Corridor (CPEC) Khalid Mansoor, who is accompanying the prime minister during his four-day China visit, told media that a consortium of three Chinese companies expressed the willingness to build a metal and paper re-processing park in Gwadar within two to three years.

He said the prime minister held a “clear communication” with National Development and Reform Commission (NDRC) staff who assured full support and commitment for the successful execution of the second phase of CPEC while maintaining high pace and quality.

Mansoor told the media that the prime minister had been assured that the joint working groups in 10 varying sectors would provide technological and financial support for the realization of projects.

He further said, during their meeting with the prime minister, the representatives of three major agricultural firms wanted to establish a modernization research lab and a demonstration plot on the Chinese pattern to improve yield and seed quality in Pakistan.

Moreover, the Chinese fertilizer companies also desired to invest in the export-oriented growth of corn and soybeans besides another one interested in the dairy sector to enhance the export of milk and other dairy products.

Besides, another Chinese textile firm reputed for high export-quality apparel also planned to build a textile cluster over 100 acres of land on Lahore-Kasur Road by investing $350 million which would also create around 20,000 jobs.

The SAMP hoped that after the prime minister’s visit, Pakistan would be able to get commitment from a variety of sectors and major companies of Fortune 500.

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