Prime Minister Imran finalizes deals with major investment firms in China


Prime Minister Imran Khan held meetings with a number of representatives of major Chinese companies on Friday, paving the way for billions of dollars of Chinese investment in the country.

The prime minister arrived in Beijing on Thursday to attend the opening ceremony of the Winter Olympics and meet Chinese leaders.

According to the official document, China Machinery Engineering Corporation (CMEC), a subsidiary of Sinomach, will set up a Pakistan-China agricultural science and technology transfer center on the basis of government-to-government assistance.

He said the Center will offer cooperation in agricultural mechanization to improve the yield of various crops and the quality of seeds. The company has also expressed interest in setting up an onshore LNG storage facility with a regasification terminal.

Read more: Prime Minister Imran’s trip to China to boost CPEC

He said a low-carbon recycling park for processing steel, metal and paper for export will be established in Gwadar Free Zone with a capacity of 13.4 million tons per year.

The document states that the targeted investment under the project is $4.5 billion and is expected to be implemented in two to three years. The project will also generate 40,000 jobs.

He said Zhengbang Group has signed a memorandum of understanding with Fauji Fertilizers Company (FFC) for the production of pesticides and feed for livestock and poultry, adding that the group also plans to jointly develop agriculture. company for the cultivation of corn and soybeans for export purposes.

According to the release, Royal Group plans to set up a Foot and Mouth Disease (FMD) Free Dairy Buffalo project with an investment of $50 million. The group plans to develop four large-scale buffalo farms with 8,000 heads for an annual milk production capacity of 16 million liters.

They also plan to build a buffalo milk deep processing plant with an investment of $30 million. “The proposed project will produce value-added dairy products such as powdered milk, cheese and packaged milk for the local market and for export purposes.”

The statement adds that a buffalo embryo lab will also be established to improve the genetics of Pakistani buffaloes to increase their milk production.

Also Read: World Cannot Afford Another Cold War: PM Imran

Providing further details, the release said Challenge Fashion has purchased an additional 100 acres of land to establish a value-added apparel special economic zone with global standards, including a supply chain group with an investment of 250 million dollars. dollars. The proposed project would generate exports of $400 million per year and employ 20,000 people.

He said the China Road and Bridge Construction Company (CRBC), in conjunction with the Karachi Port Trust (KPT), will develop the Karachi Coast Comprehensive Development Zone (KCCDZ).

With an investment of $3.5 billion, the proposed project will be developed and constructed in an area of ​​9.3 square kilometers and will be built in the functional blocks including Binhai, Ecological Bay, Knowledge City and Global Blue Diamonds Island.

“The project will create thousands of new jobs and become a hub for tourism, IT, fashion, media, finance, ports and maritime services.”

The statement said Neusoft Medical Systems plans to focus on upgrading medical diagnostic equipment (MDE), AI, university and national service network configurations with a $30 million investment in phase I.

“Neosoft will additionally set up an MDE assembly plant in the SEZ and STZ with an investment of $170 million.”

According to the statement, Hunan SunWalk Construction Group has signed a memorandum of understanding with a private telecommunications company to lay a fiber optic cable network of about 100,000 kilometers in all major cities of Pakistan with an investment of 2 billion. dollars.

He said that Flourishtech has signed an MoU with STZA and plans to set up a research lab for mobile phone parts, manufacturing and assembly at STZA, Islamabad for OPPO, RealMe, VIVO and OnePlus.

The document said that Global Semiconductor Group planned to establish a semiconductor test facility in addition to a research and development and skills development training center with an investment of $40 million. The project is expected to employ 100,000 IT professionals.

Letin Autos NAV E-vehicles (Pvt) limited intends to establish an electric vehicle production facility including fabrication, fabrication and assembly in Rashakai Industrial Zone, Khyber-Pakhtunkhwa.

The meeting was attended by Foreign Minister Makhdoom Shah Mahmood Qureshi, Finance Minister Shaukat Fayyaz Tarin, Information Minister Chaudhry Fawad Hussain, Planning Minister Asad Umar, Trade Counselor Abdul Razzak Dawood, SAPM for CPEC Affairs Khalid Mansoor, National Security Advisor Dr. Moeed Yusuf and senior Pakistani government officials.


Comments are closed.