S Korean firm seeks security assurance

KARACHI: The J-Group and Corporation, a South Korean company, has expressed interest in investing in Sindh and other provinces but has sought security assurance.

Representatives of the Korean company met with Sindh Industries Minister Rauf Siddiqui on Wednesday. The company said it is interested in installing a raw material purification plant in Karachi. “We are also interested in installing raw material purification plants of copper wire in Balochistan, Waziristan, Peshawar, Bannu and other areas for raw material,” it said.

The Korean delegation sought security assurance, land and other utilities. In response, Industries Minister Rauf Siddiqui said that security in Karachi and Sindh was satisfactory and the province was safe for investment. Siddiqui assured the company that the Sindh government would provide required facilities and security to foreign investors and would also request the federal government and the Khyber- Pakhtunkhwa government to provide security to the group.

Published in the Express Tribune, May 13th, 2010.