An agreement was signed at the Punjab Board of Investment and Trade (PBIT)’s office on Thursday between department of industries’ commerce and investment and administration committee of the National Linyi Economic and Technology Development Area, Shandong, China.
PBIT facilitated the agreement between the Punjab government and Shandong.
According to the agreement, Linyi would join hands with the industries department to establish a 1,500 acre industrial estate in Lahore whereas the Punjab government would procure land for the estate. The establishment of such estates would promote industrialisation in Punjab and facilitate the industrialists for investment in industrial estates besides creating thousands of jobs. This industrial estate would focus on engineering, manufacturing goods and heavy machinery.
Published in The Express Tribune, April 8th, 2016.
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