A Pakistani and a Chinese company have entered into a joint venture for manufacturing Optical Brightening Agents (OBA) which is used in textile, paper, plastic, household and items of personal care.
The joint venture was announced at a meeting of the Federation of Pakistan Chamber of Commerce and Industries' Standing Committee on Dyes, Chemicals and Allied items, held in the Federation House under the chairmanship of Saquib Fayyaz Magoon.
The announcement was made by Chinese Polar Bear International Corporation's Executive Director Xu Feng, which has entered into venture agreement with Dacca Trade Agency, Karachi. The total investment in the project with a production capacity of 1,000 metric tons of chemicals per annum is three million dollars.
Xu Feng said the OBA was mainly used in the textile sector and the company had selected Pakistan for the joint venture after careful consideration of the future of the textile sector in the country.-PR
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