A Chinese company has expressed interest in establishing a steel mill with a million tonne capacity in Punjab province.
According to sources in the Engineering Development Board, a ten-member delegation of Ansteel International Trading Company has showed interest in establishing a steel mill in Punjab in its meeting with the Punjab Board of Investment and Trade (PBIT).
With its presence in Australia, Spain and Italy, Ansteel is willing to set up a steel mill in Chiniot or Kalabagh as these areas have huge deposits of iron ore and coal.
PBIT officials assured the Chinese company of safety and security of its investment and personnel. The company has also been promised easy access to raw materials such as water, limestone and coal as well as a steady supply of labourers and skilled workers who will be trained as per its requirements.
The company would also be given a 30-year lease in a mineral-enriched area with an easy option to keep extending the lease in 10-year installments.
All China, Germany, Turkey, UK, Canada and Australia etc. have been setting up business in Punjab. They must realize that Balochistan, Sindh, KPK, Gilgit Baltistan and FATA are also part of Pakistan.
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