LAHORE: A Chinese lithium battery manufacturing company has announced to set up a plant in Punjab and an agreement was signed between the Punjab Industries and Commerce Department and the Chinese company.

Punjab Industries and Commerce Minister Chaudhry Shafay Hussain signed the agreement with the Chinese company during his visit to the factory in Shenzhen, China, disclosed an official on Friday. The Minister welcomed the agreement with the Chinese company to set up a factory to manufacture lithium batteries in Punjab. “All possible facilities would be provided to the Chinese company to set up a plant in Punjab,” he added.

He averred that a meeting was held with this group in Lahore, which invited them to visit their plant in China. He added that there was a favorable environment for investment in Punjab, and foreign investors were giving preference to investing in Punjab.

On this occasion, Rick Shek, the chairman of the Chinese company, said that their group was manufacturing batteries for industrial, commercial, and domestic use, and these batteries can also store energy. He added that a plant for manufacturing lithium batteries would be set up in Punjab.

During his visit, the Minister was briefed by the company's director, Johan, about the process of manufacturing batteries.

Copyright Business Recorder, 2024