Chinese firm finalises deal in stone auction
* China showing keen interest in stone sector
* Chinese firm remains successful bidder at PADDEC auction
By Razi Syed
KARACHI: Pakistan based Chinese firm on its higher bid finalised the deal in stone auction, announced by the Pakistan Stone Development Company (PASDEC) on Tuesday. Chairman PASDEC, Ihsanullah Khan said Chinese are showing great interest in Pakistani marble for its quality and cost effectiveness in the international market.
He said another auction would be held in Peshawar on March 6, 2010 for the marble being excavated from mines in NWFP.
Talking to Daily Times, around 15 percent growth is expected while the country will cross $62 million export of all kind of marble products till June 2010, chairman BMG group of. All Pakistan Marble Mining Processing Industry and Exporters Association (APMMPIEA), Sanaullah Khan said.
The growth and export purely depends on the back of construction boom in the Middle East and increase in Indian demand, he added. He said the export of marble products crossed $37 million till January 2010 and exports will cross the target of $62 million by the June 2010.
Export to Dubai and other Middle East countries including Saudi Arab increases as compared to export to the USA and European nations during this period, he added. He said, USA is eyeing on Swat district, Bajaur agency and NWFP where we have million tonnes of deposit of marble and chromite
This is black coloured stone, which contains around 55 percent steel properties and is used in steel making and steel material for tank making, he added. Mr Khan said China is the largest importer of chromite, It is exported to China at Rs 42 per kg but due to disturbance in the tribal areas our export is hit hard he claimed.
He said, Demand from India alone is around more than one million dollars every month as India possesses granite but not marble.
There is an export potential of about $ 1 billion, realising the potential in marble and granite sector, as mining and quarry sector contributes nearly 0.6 percent to Pakistans Gross Domestic Products (GDP) with an estimated value addition of more than Rs 16.5 billion.
Around 45 percent of the processing units in Karachi have doubled their production in the biggest marble estate in the country.
Chairman APMMPIEA, Haroon Rasheed said Chinese made deals for 2,000 tonnes of Cotan beige and two grades of Mastung beige quality marble ex Gaddani in Balochsitan basis. China will become largest buyer of stone in coming years besides there are bright chances of enhancing foreign and local investment in the stone sector, he added.
* China showing keen interest in stone sector
* Chinese firm remains successful bidder at PADDEC auction
By Razi Syed
KARACHI: Pakistan based Chinese firm on its higher bid finalised the deal in stone auction, announced by the Pakistan Stone Development Company (PASDEC) on Tuesday. Chairman PASDEC, Ihsanullah Khan said Chinese are showing great interest in Pakistani marble for its quality and cost effectiveness in the international market.
He said another auction would be held in Peshawar on March 6, 2010 for the marble being excavated from mines in NWFP.
Talking to Daily Times, around 15 percent growth is expected while the country will cross $62 million export of all kind of marble products till June 2010, chairman BMG group of. All Pakistan Marble Mining Processing Industry and Exporters Association (APMMPIEA), Sanaullah Khan said.
The growth and export purely depends on the back of construction boom in the Middle East and increase in Indian demand, he added. He said the export of marble products crossed $37 million till January 2010 and exports will cross the target of $62 million by the June 2010.
Export to Dubai and other Middle East countries including Saudi Arab increases as compared to export to the USA and European nations during this period, he added. He said, USA is eyeing on Swat district, Bajaur agency and NWFP where we have million tonnes of deposit of marble and chromite
This is black coloured stone, which contains around 55 percent steel properties and is used in steel making and steel material for tank making, he added. Mr Khan said China is the largest importer of chromite, It is exported to China at Rs 42 per kg but due to disturbance in the tribal areas our export is hit hard he claimed.
He said, Demand from India alone is around more than one million dollars every month as India possesses granite but not marble.
There is an export potential of about $ 1 billion, realising the potential in marble and granite sector, as mining and quarry sector contributes nearly 0.6 percent to Pakistans Gross Domestic Products (GDP) with an estimated value addition of more than Rs 16.5 billion.
Around 45 percent of the processing units in Karachi have doubled their production in the biggest marble estate in the country.
Chairman APMMPIEA, Haroon Rasheed said Chinese made deals for 2,000 tonnes of Cotan beige and two grades of Mastung beige quality marble ex Gaddani in Balochsitan basis. China will become largest buyer of stone in coming years besides there are bright chances of enhancing foreign and local investment in the stone sector, he added.
