Special Assistant to Prime Minister (SAPM) on China Pakistan EconomicCorridor (CPEC) Affairs Khalid Mansoor on Monday said China has given theassurance of high quality and expeditious development of the second phaseof the project during the visit of Prime Minister (PM) Imran Khan toBeijing.
Addressing a news conference in Islamabad, he said the leadership ofChinese companies appreciated the environment and facilitation beingprovided by Pakistan to the Chinese investors during meetings with PM ImranKhan.
Mansoor pointed out that the premier held twenty back-to-back meetings inBeijing during which the Chinese firms showed interest in investment indifferent sectors including industries, agriculture, information technology(IT), infrastructure, housing, construction, mining, and oil refinery.
SAPM said that a consortium comprising three Chinese companies hassubmitted a proposal to establish a low carbon recycle plant at Gwadar withan estimated investment of $4.5 billion, adding the park will process andexport high-value metals. “This will generate 40,000 job opportunities,”Mansoor said.
He said China will establish a centre for the training of farmers inagricultural mechanisation while Power China will develop the Karachi-Hubwater canal.
Khalid Mansoor said one Chinese company has entered into a joint venturewith Fauji Fertilizer Company for the production of soya bean and corn. Headded the Royal Group company has submitted a proposal to establish fourlarge-scale buffalo farms in Pakistan where it will process milk andprepare value-added products.
SAPM said that a big Chinese firm has also decided to establish a textilecluster on 100 acres of land, adding that China has also reaffirmed thecommitment to the construction of the Karachi Coastal ComprehensiveDevelopment Zone with an investment of $3.5 billion.
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He told a Chinese company involved in the manufacturing of medicaldiagnostic equipment has expressed interest to invest $200 million while aPakistani cellular company has reached an agreement with a Chineseenterprise to lay fibre-optic on an area of 100,000 kilometres. “This willhelp connect our big cities with optical fibre,” Mansoor said.
He said China also wants to establish a liquefied natural gas (LNG) storagefacility at Karachi port with an investment of $500 million.
He added local manufacturing and assembly of mobiles will also be startedby China in the science and technology zone (STZ).
SAPM expressed confidence that Pakistan will now steer towardsindustrialisation which will benefit the economy and create employmentopportunities for the youth.