Chinese investor group has signed a major agreement with the Punjab government to build an industrial park covering 300 acres in the province, according to the Punjab Industries, Commerce, Investment and Skills Development Department.
Under the agreement, Sino Pak Tech Industry (Pvt.) Ltd. will establish a new industrial zone through a foreign investment of $1.5 billion.
As per Business Recorder, the park will house manufacturing units in sectors including textiles, automotive, pharmaceuticals, and others. These units are expected to boost production and create thousands of new jobs. Provincial Minister for Industries and Commerce Chaudhry Shafaat Hussain said the Punjab government is providing every possible facility to foreign investors.
He added that this new investment will mark the beginning of a new era of employment and industrial development in the province.
He said Punjab’s special economic zones are being upgraded with international-standard infrastructure.
Under the Faisalabad Industrial Estate Development and Management Company, additional facilities such as community centers and banking services are also being established to support incoming investors.
Sino Pak Tech Industry (Pvt.) Ltd. is among the companies promoting China–Pakistan industrial cooperation by expanding Chinese manufacturing and technology partnerships in Pakistan.
Its affiliated entity, Sinopak Electromechanica (Pvt.) Ltd., provides comprehensive services to Chinese companies operating in Pakistan, including procurement, logistics, customs clearance, domestic transportation, installation, and after-sales support for industrial machinery.
