A Chinese industrial group, Kirrich Corporation, has announced to invest $100 million in the mining sector in Pakistan, said a press release on Friday.
SME Business Solutions Ltd Chief Executive Officer Waliullah Khan told media personnel that Kirrich Corporation of Beijing would set up a network of mineral exploration enterprises mainly in Punjab where many natural resources and minerals especially gypsum, iron ore, lime stone, silica, China Clay, Dolomite, coal, rock salt, chalk and bauxite were available.
The delegation from Kirrich Corporation led by its Director, Ma Qui Yun also visited the office of SME Business Solution and signed an MoU on behalf of her company.
Local director of the Chinese investors Motia Junejo and SME CFO Raeel Fatima were also present on the occasion.
According to the agreement SME Business Solution will provide corporate and legal services to Kirrich Corporation in Pakistan.
Ma Qui Yun said on the occasion that Pakistan is the land of opportunities and Punjab has mineral resources in abundance and only an effective mining is required to exploit these rich resources, the release said.