A Memorandum of Understanding was signed between Punjab government and a Chinese company, NORINCO International, for co-operation in energy, transport, infrastructure and other sectors, here on Thursday. Planning & Development Punjab Chairman Sohail Ahmed and NORINCO International President Hu Farong signed the MoU. Managing Director Metro Bus Authority, Secretary Communication & Works, Secretary Transport and senior officials of NORINCO International were present on the occasion.
Under THE MoU, NORINCO International will extend co-operation to Punjab government for setting up an industrial city near motorway M2, construction of infrastructure for metro training Lahore, launching of solar energy project, solar irrigation project and various road projects. NORINCO International will provide financing, technical expertise and other services so that these projects could be executed expeditiously.
Meanwhile, Punjab Chief Minister Shahbaz Sharif has said that Pakistan and China are trusted friends and the friendship between them is deeper than oceans, higher than mountains and sweeter than honey. He said that trade ties between the two countries was improving with the passage of time.
The Chief Minister said that signing of an MoU between Punjab government and a Chinese company was a welcome step, which would further accelerate the pace of progress in the province. He said that experience and expertise of NORINCO International would be fully utilised for strengthening of the provincial economy. The Chief Minister expressed these views while talking to a high-level Chinese delegation led by Chairman NORINCO International and Vice President NORINCO Group Wang Yitong, here on Thursday. The Chairman NORINCO International congratulated Shahbaz Sharif on assuming the charge of Punjab chief minister. He lauded Shahbaz as a visionary leader and expressed the hope that economy of the province would make rapid progress during the next five years.
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