An investment accord was signed between Sino Pak Tech Industry Private and Punjab Ministry of Industries and Trade, after which the Chinese company will construct an Industrial Park in the Special Economic Zone (SEZ) in Punjab, it was reported on Wednesday.
Provincial Minister for Industry and Trade Chaudhary Shafay Hussain and the Chief Executive Officer (CEO) of a Chinese company signed the agreement.
The Industrial Park will be constructed on an area of 300 acres of land. The Chinese investment company will bring an investment of $1.50 billion.
Textile, automotive, pharmaceutical, and other industries will also be established.
Prominent among those who attended the ceremony were Punjab Investment Board (PIB) Director Imran Hashmi, Member Executive Wahab Murtaza Tariq, and other high-ranking officials.
Punjab Minister for Trade and Industry Chaudhary Shafay Hussain lauded the signing of the accord. He said that the Punjab government will extend full support to the Chinese company.
He said, “My mission is to increase employment opportunities in Punjab through new investments.”
Chaudhary Shafay Hussain said that the fruits of the Punjab Chief Minister’s and my visit to China have begun to bear fruit.
The provincial minister said that several Chinese companies have started building their industrial units in Punjab.
He further said that foreign investment companies are prioritizing investment in Punjab.
A community center is being built for foreign investors in the industrial estate under the auspices of FIEDMC and major banks are planning to open their branches here.
He said that an industrial infrastructure of international standard is available in the Special Economic Zone.
Chaudhary Shafay Hussain urged the foreign investment companies to avail opportunity of foreign investment in Punjab.
