*MoU signed between Punjab government and Chinese group for investment of two billion dollars
A memorandum of understanding was signed between the Punjab government and a prominent Chinese company Shandong Ruyi Group at the Chief Minister’s Office on Thursday.
Punjab Chief Minister Shahbaz Sharif was the chief guest on the occasion. Under the agreement, Shandong Ruyi Group will make an investment of two billion dollars in the Quaid-e-Azam Apparel Park and will also cooperate in its designing, planning and construction. The Punjab government will provide all-out facilities to the Chinese group on priority basis.
The Chinese group and Punjab Industrial Estates Development and Management Company (PIEDMC) will jointly work on the project. Besides senior officials of Shandong Ruyi Group and Huaneng Shandong, provincial ministers and authorities concerned were also present on the occasion.
PIEDMC Chairman S M Tanvir and Shandong Ruyi Group Executive President Arie Qiu signed the document.
Earlier, a delegation of the Shandong Ruyi Group and Huaneng Shandong led by Luan Shun met the chief minister. Shandong Ruyi Group Executive President Arie Qiu, Li Aiying, Masood Textile Chief Executive Officer Shahid Nazir, members of the delegation, provincial ministers Mujtaba Shujaur Rehman, Muhammad Shafique, Sher Ali Khan, Advisor Ijaz Nabi, Energy additional chief secretary and officers concerned were also present. The Chinese group also showed keen interest in investment in the energy sector and expressed desire to set up two coal power plants of 660 megawatt in Sahiwal and two similar plants of 135 megawatt in the industrial estates besides considering establishment of coal power plants near coal mines in the Salt Range.
The chief minister expressed gratitude to the Ruyi Group for taking interest in investment in the energy and textile sectors. He said that Chinese companies are extending cooperation to Pakistan also in projects of generation of electricity from solar and other sources. He said that maximum facilities are being provided to the Chinese investors in Punjab. He welcomed the agreement between the Shandong Group and PIEDMC regarding the Quaid-e-Azam Apparel Park project. The Chinese group is also making investment of billions of dollars in the industrial estate in Faisalabad.
Shahbaz Sharif said that the PML-N government has provided a favourable atmosphere for investment and the country is moving forward in the right direction under the leadership of Prime Minister Nawaz Sharif.
He said that Pak-China friendship has stood the test of time and package of investment of 32 billion dollars by China reflects strong relationship between the two countries. He said that Pak-China friendship is touching new heights in the current tenure of the PML-N. Referring to iron ore reserves in Rajua, Shahbaz Sharif said that a historic agreement has been signed with a Chinese company MCC for exploration of iron ore deposits in Chiniot. He said that the Punjab government wants to modernise the mining sector and operate it in an organised manner for generating job opportunities. He said that cooperation of the Chinese group in the mining sector would be welcomed. The leader of Shandong Ruyi Group Luan Shun said that Chief Minister Shahbaz Sharif has executed glorious projects in the Punjab and he is deeply impressed with his style of work. He said that there are opportunities of setting up coal power plants near coal mines in the Punjab. The chief minister also hosted a luncheon in the honour of the Chinese group.
Meanwhile, Shahbaz Sharif has said that the government has adopted a solid strategy for exploration and utilisation of mineral resources and full benefit will be taken of coal, iron ore and other mineral resources in the province. He said that iron deposits of billions of dollars exist in Rajua, Chiniot and a historic agreement has been signed with a Chinese company for their exploration. He said that a steel mill would be set up in Chiniot upon discovery of iron ore reserves which will result in provision of job opportunities to thousands of people.
He was talking to a delegation of the Metallurgical Corporation of China during a meeting on Thursday. The delegation comprised MCC Director General Xu Yongjie, Deputy Chief Executive Officer Hu Chunqing and others. Provincial minister for Minerals Sher Ali Khan, Planning and Development Chairman and Minerals secretary were also present on the occasion.
