PESHAWAR – Former President Federation of Pakistan Chamber of Commerce andIndustry (FPCCI), Haji Ghulam Ali Saturday signed a Memorandum ofUnderstanding (MoU) with a Chinese firm, Jin Kolin Group for establishmentof a steel mill in Khyber Pakthtunkhwa.

Haji Ghulam Ali who is also former Senator is now a days heading adelegation of businessmen to Fuzhou city of Fujian province in China.

According to a press statement issued here, the MoU is signed betweenDirector of ZKB industry, Mohabat Khan and General Manager Ching WonMetallurgical Limited Company for establishment of steel mill in KP with acapacity of producing 200,000 tons on annual basis.In the MoU, understanding has also been reached for provision of machineryin six months period by Chinese firm.

While work on setting of mill will start in two months period. In thisconnection, Chinese engineers will soon visit KP.Speaking on the occasion, Haji Ghulam Ali said investment by Chineseinvestors will promote people to people and government to governmentrelations between both countries.

He said both the countries have exemplary friendly relations, but there isneed of increasing people of to people contact through promotion of trade.He said CPEC is a gift of Chinese government for people of Pakistan andthis project will further strengthen our friendship.

The dividends of CPEC will not only be received by big investors but alsoby ordinary people of both the countries, he added. – APP