Islamabad: The Chinese firms will invest in setting up a USD 4.5 billion metal melting plant at Gwadar’s low-carbon circular industrial zone, news sources reported. The agreement was signed between the Chinese firms and Pakistan during the latest visit of Prime Minister (PM) Imran Khan to China.
The melting plant will be built under the China Pakistan Economic Corridor (CPEC). In a statement, Information and Communications Minister Fawad Chaudhry said that in addition to the metal melting plant, China would also invest USD 2 billion in the mining projects in the province to increase job opportunities in the region for the indigenous people. It was reported that the government has been able to secure an investment worth USD 15 billion under CPEC renewed project streams. In a statement, Special Assistant to the Prime Minister on CPEC Affairs Khalid Mansoor said that the governments of both countries have agreed to continue cooperation on the second phase of CPEC.
Under the second phase, Chinese firms will invest in industries, agriculture, Information Technology, infrastructure, housing and construction, and mining and oil refinery.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
