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ISLAMABAD: Special Assistant on CPEC Affairs Khalid Mansoor on Monday said China has given the assurance of high quality and expeditious development of second phase of China-Pakistan Economic Corridor (CPEC) during Prime Minister Imran Khan’s visit to Beijing.
Addressing a news conference, the special assistant said the leadership of Chinese companies during meetings with Prime Minister Imran Khan appreciated the environment and facilitation provided to Chinese investors. Khalid Mansoor mentioned that the prime minister held twenty meetings in Beijing during which Chinese companies showed interest in investment in different sectors including industries, agriculture, IT, infrastructure, housing and construction, mining, and oil refinery.
The Special Assistant said it will now be our effort to give a practical shape to their interest in the shortest possible time. He said that a consortium of three Chinese companies has submitted a proposal to establish a low-carbon recycling plant at Gwadar with an estimated investment of $4.5 billion. He said the plant will process and export high-value metals and generate 40,000 job opportunities.
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The Special Assistant said that China will establish a center for training of farmers in agricultural mechanization. He said one Chinese company has entered into a joint venture for production of soybean and corn. He said a Chinese Company Royal Group has submitted a proposal to establish four large-scale buffalo farms in Pakistan where it will process milk and prepare value-added products. He said that a big Chinese company has also decided to establish a textile cluster on one hundred acres of land.
Khalid Mansoor said that China has also reaffirmed the commitment to the construction of Karachi Coastal Comprehensive Development Zone with an investment of $3.5 billion. The Special Assistant said a Chinese company involved in manufacturing medical diagnostic equipment has expressed interest to invest two hundred million dollars.
He further said that a Pakistan cellular company has reached an agreement with a Chinese company to lay fiber-optic which will help connect big cities. He said China also wants to establish an LNG storage facility at Karachi port with an investment of $500 million.
He said local manufacturing and assembly of mobiles will also be started by China in the Science and Technology zone while Power China will develop Karachi hub water canal. The Special Assistant expressed confidence that the country will now head towards industrialization which will benefit the economy and provide job opportunities to the youth.
