Chinese company to invest $200m in Punjab

By Staff Reporter | The Nation Nov 3, 2022

The Chinese delegation led by Mr Gao Qiang, vice president of Sinovac Global met Punjab Chief Minister Ch Parvez Elahi at his office on Monday and expressed willingness to invest $200 million  in Punjab. 

The Chinese company will set up a factory to manufacture plasma medicine products in Punjab which will cost about Rs45 billion. It will also export items worth 500 million dollars.

The CM said that the Sinovac company will be provided land on a priority basis in CPEC Industrial Estate Faisalabad. 

 “I laid the foundation stone of this industrial estate in my previous period which contains all the necessary facilities. All the required facilities will be provided to the company in Punjab”, he said.  Parvez Elahi said that this project will not only benefit Punjab but the whole of Pakistan, and it will be carried forward on a fast-track basis to ensure early completion. “This project will create new employment opportunities and will become a new example for Pakistan-China friendship”, he added.

He termed Sinovac company’s plan to set up a factory to manufacture plasma medicine products in Punjab a milestone. “The company’s willingness to invest billions of rupees in Punjab is very welcome. We thank Sinovac company for supplying vaccines to Pakistan during the Corona epidemic. Planning a factory to manufacture plasma medicine products in Punjab is a big step”, he averred. 

Chairman Dean Holdings SM Naveed, Chairman Fazal Din & Sons Suhail Ahmad Kabir, former president Bank of Punjab Hamesh Khan, secretary industries, secretary primary and secondary health, special secretary specialized healthcare and medical education, chief executive officer PBIT and others were present. The Chinese delegation included technical consultants Mr Sun Sicai, Mr Gu Hao, Mr Lu Feng, Ms Sun Shasha, Ms He Likun, Ms Li Zixuan and others.

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