Chinese companies pledge Pakistan an initial investment worth $9.5 billion
As PM Imran Khan visit China to attend the Beijing Winter Olympics 2022, Chinese companies have pledged an initial investment worth billions of dollars.
A $4 billion investment agreement for steel recycling in Pakistan’s Gwadar has been signed.
China Machinery Engineering Corporation will establish an agricultural technology transfer center. CMEC has expressed interest in the storage of 200,000 metric tons of LNG in Karachi.
The Royal Group will invest $50 million in Buffalo Farm. The company also plans to invest an additional amount of $30 million in milk processing.
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$50 million will be invested in agricultural technology and $500 million on LNG storage. Another Chinese company has signed several MoUs with Fauji Fertilizer.
Challenge Fashion, a leading textile company, bought 100 acres for the Free Economic Zone at a cost of $250 million. This investment will help increase exports by $400 million annually and create 20,000 jobs.
A consortium of three companies, according to the Special Assistant to the Prime Minister Mr. Khalid Mansoor, is “looking to establish a metal and paper reprocessing park in Gwadar.”
CRBC will invest $3.5 billion in partnership with Karachi Port Trust. The two groups will collaborate to establish Karachi Coastal Development Zone.
Neusoft Medical Systems will invest $30 million in medical artificial intelligence. Neusoft intends to spend an additional $170 million on several initiatives.
The Global Semiconductor Group will invest $40 million in a Skills Development Center, which is expected to create more than 100,000 jobs whereas Hunan Sunwalk Construction Group plans to install 100,000 kilometers of fiber optic cable for a total cost of $2 billion.
