Gharibwal Cement Group and China International Trust and Investment Corporation (CITC), signed a deal in Beijing on Monday in the presence of Chief Minister Shahbaz Sharif for setting up an industrial park in Chunian. Under the deal, Chinese investors and industrialists will construct an industrial park in Chunian Industrial Estate in Punjab. Chinese investors in the private sector will set-up factories in the industrial park encompassing an area of 2,000 acres. The projects estimated cost is Rs 20 billion.
Shahbaz Sharif while speaking on the occasion welcomed the business-to-business agreement between Pakistan and China and said, it will promote further investments in the private sector. Director General Chinese Ministry of Industries & Information Technology, Luo Min met Chief Minister Shahbaz Sharif and discussed matters regarding promotion of cooperation to further accelerate the process of industrial and information technology. The CM Shahbaz Sharif on the occasion assured that all-out facilities will be provided to Chinese industrialists for setting up industrial units in Punjab.