Chinese group to finalise land for Lahore theme park
LAHORE: A delegation of the Golden Bean Group of China will visit Lahore in January to finalise the location of a theme park for which the Punjab Board of Investment and Trade will help the company.
Participants in an investment facilitation committee meeting held at PBIT office on Friday discussed establishment of the amusement park and an aquarium in Lahore.
The board will help the group in land acquisition, road access and water and power supplies.
Punjab Labour Minister Raja Ashfaq Sarwar, PBIT Chairman Abdul Basit, PBIT Chief Executive Officer Amena Cheema, Commissioner Abdullah Sumble and district coordination officers of Lahore and Sheikhupra were present.
It was decided the Golden Bean Group would construct the park in 18 months from the date of land acquisition.
The Lahore Theme Park will be one of its kind amusement parks in Asia which will be fully funded and executed by the Chinese group.
Published in Dawn, December 19th, 2015
China Pakistan ink $2 Billion deal to Build Power Plant in Sindh
BEIJING: China and Pakistan today signed a $2 billion agreement to jointly build a massive coal- fired power station in Pakistan's southern Sindh province.
The project will cost in excess R$2 billion, including the exploitation of a 3.8-million-tonne coal mine and the construction of a 660,000-kilowatt power station near the mine, China's state-run Xinhua news agency reported.
China will contribute USD 800 million to the financing, while the Pakistani partners will provide $500 million, mainly through China Development Bank and Habib Bank.
The project is expected to be completed by the end of 2017, and it will be the first such project in the China- Pakistan Economic Corridor.
The corridor will be a 3,000-kms long network of roads, railways and energy infrastructure between the ports of Gwadar in Pakistan and Kashgar in China's Xinjiang.
It was established to help lift Pakistan out of its economic slumber and boost growth for the Chinese border economy.
The commercial contracts for Karakoram Highway and Karachi-Lahore Motorway projects are signed in Islamabad.