Chinese investors to invest $50bn in Punjab

[aks]

LAHORE: Chinese investors have shown to invest 50 billion dollars in Punjab during the next 10 years, a diplomat informed.
At a meeting held at the head office of Punjab Industrial Estates (PIE) and Development & Management Company (DMC) here, Yan Li, —leader of a seven-member Chinese delegation and chairman Tengzhong group of China—said that the objective of the investment will be to construct a modern and large industrial city along with an industrial estate on 100,000 acres of land.
The meeting was presided over by PIE chairman S M Tanveer. The meeting was also attended by special adviser to chief minister of Punjab Haroon Khawaja, Punjab Planning & Development Department chairman, Provincial Secretary Industries, Suhan Zuberi from Meril Lynch, CEO Pak China Bureau Zafarul din Mahmood and CEO PIE Ali Muzzam.
The leader of the delegation said that the investment will provide employment to 100,000 families and their group would not only construct a special economic zone but also hospitals and other welfare projects along with the mega project.
He said that according to the first year plan, about five to seven billion dollars will be invested.
He mentioned that his group intended to invest up to 50 billion dollars in total; however, the Punjab government should provide a an investment-friendly atmosphere
PIE chairman SM Tanveer informed the delegation that under the visionary leadership of Punjab Chief Minister Shahbaz Sharif, the Punjab government is striving hard to attract foreign investment. The visit of the Chinese delegation is a follow-up of Sharif’s visit to China in November, he added.—APP
this will surely give booom tou pakistan's economy

 

[aks]

China to set up industrial mega city in Punjab
China to set up industrial mega city in Punjab
'Pakistan Times' Business & Commerce Desk

LAHORE: The leader of four-member Chinese investors delegation Jiang Jin has said that China would establish industrial mega city sprawling over 100,000 acres in Punjab.

“The proposed economic zone would usher a new era of friendship between Pakistan and China”, he said while addressing the first working group meeting of proposed city at the Punjab Industrial Estates head office here Thursday.

He said that foreign investors as well as the Chinese and local investors would invest in the gigantic project.

The working group has decided to finalize the draft agreement for the proposed economic zone before March 31.



this news is also part of above posted news

 

[chinapakistan]

Good work, china-pakistan realitionship should become closer and closer.
Buy the way, who can invest 50bn to my pockets. ORZ

 

[AZADPAKISTAN2009]

50 billion for Pakistan GREAT NEWS


Hope that the cooperation between Pakistan and china reaches new heights

 

[aks]

chinese firms are already working in punjab in mega projects n there is possibly of giving tender of lahore metro to chiense firm too

 

[Comet]

This is a wonderful news. This will help Pakistani economy and will help cater the rising unemployment issues.

 

[Omar1984]

LAHORE: Chinese investors have shown to invest 50 billion dollars in Punjab during the next 10 years, a diplomat informed.
At a meeting held at the head office of Punjab Industrial Estates (PIE) and Development & Management Company (DMC) here, Yan Li, —leader of a seven-member Chinese delegation and chairman Tengzhong group of China—said that the objective of the investment will be to construct a modern and large industrial city along with an industrial estate on 100,000 acres of land.
The meeting was presided over by PIE chairman S M Tanveer. The meeting was also attended by special adviser to chief minister of Punjab Haroon Khawaja, Punjab Planning & Development Department chairman, Provincial Secretary Industries, Suhan Zuberi from Meril Lynch, CEO Pak China Bureau Zafarul din Mahmood and CEO PIE Ali Muzzam.
The leader of the delegation said that the investment will provide employment to 100,000 families and their group would not only construct a special economic zone but also hospitals and other welfare projects along with the mega project.
He said that according to the first year plan, about five to seven billion dollars will be invested.
He mentioned that his group intended to invest up to 50 billion dollars in total; however, the Punjab government should provide a an investment-friendly atmosphere
PIE chairman SM Tanveer informed the delegation that under the visionary leadership of Punjab Chief Minister Shahbaz Sharif, the Punjab government is striving hard to attract foreign investment. The visit of the Chinese delegation is a follow-up of Sharif’s visit to China in November, he added.—APP
this will surely give booom tou pakistan's economy

China is a true friend of Pakistan and People of Pakistan will never let China down.

Long Live China-Pakistan Friendship !!!

 

[graphican]

Here comes the friend at time we needed the most. LOVE YOU CHINA - YOU HAVE GIVEN NEW MEANINGS TO THE WORD FRIENDSHIP AMONG COUNTRIES. Is there any better example out there on the planet where a country would have embraced the other to this level? Easily NOT!

 

[Hyde]

There are some news you feel like believing it. But this is not that kind of news that you can easily believe. I read about other major projects who were far smaller comparing to this 50 dollars invesment but they never formed reality.

50 dollars in next 10 year is like 5 dollars per year and that is never going to happen.

 

[ajpirzada]

it will be great if this happens but 50bn $ sounds quite exaggerated.
btw where is the link?

 

[FreekiN]

FLAWLESS VICTORY.

 

[Creder]

yh man 59 bn "dollars" thats a butt load of dough...but it also said over ten years so dunno but wonderful news, things are finally looking good

 

[Omar1984]

it will be great if this happens but 50bn $ sounds quite exaggerated.
btw where is the link?

Businessday.com.pk | Chinese investors to invest $50bn in Punjab

China to invest $50 billion in Punjab

 

[Sanchez]

I have some doubts about the scale and timing of the investment. There is no report in Chinese media. The Tengzhong Heavy Engineering Corp. made a deal of 150m USD to acquire Hummer model from GM last year but was rejected by Chinese regulatory authority. The company isn't very big and there must be involvement of other financial Institutions and Chinese government.

However, the product lines of Tengzhong seem to be quite modern and may have good market potentials.
http://www.sctengzhong.com:8080/tengzhong/weben/cp.jsp

 

[Sanchez]

In my opinion if it is to develop an industrial city it means Tengzhong would bring lots of other Chinese companies to join the program later.