8 Chinese factories with $845 mln investment become operational
FAISALABAD, Sept. 22 (Gwadar Pro) - 8 Chinese Companies with $845 million investment have setup their factories and started operation under China-Pakistan Economic Corridor (CPEC) in Allama Iqbal Industrial Zone, Faisalabad.
The joint cooperation with Chinese investors will not only boost economic growth, but also help provide a large number of employment.
Special Assistant to Prime Minister (SAPM) on CPEC, Khalid Mansoor has revealed that during the last three years, these Chinese companies have invested in agriculture, mobile phone manufacturing, prefabricated homes, two-wheel, and three-wheel electric vehicles, LED lights, ceramics tiles, liquid, and solid detergents.
According to Faisalabad Industrial Estate Development and Management Company (FIEDMC), many Chinese companies are investing an approximate $1 billion to build mega projects in different fields.
These areas include textiles, pharmaceuticals, chemicals, food processing plants, construction materials, perfume units and package sectors. Other major groups of China are also signing Memorandum of Understating with FIEDMC to invest in special economic zones.
Allama Iqbal Industrial City Priority Special Economic Zone has been designed on international standards to fulfill the needs of international especially Chinese industrialists.