Joint venture: Pakistan, China firms to build $200m glass manufacturing complex
PM calls investment indication of foreign investors’ confidence
The project will utilise natural resources in Pakistan and use latest technology to convert into glassware, float glass and other kinds of glass products. DESIGN: CREATIVE COMMON
ISLAMABAD:
Deli China and JW SEZ Group have joined hands for establishing a $200 million modern glass manufacturing complex in Pakistan for the production of premium, export-quality glass products.
In this regard, the groundbreaking ceremony was held at the Prime Minister’s Office where prominent businessmen, government officials and a Chinese delegation were present.
Commenting on the initiative, Prime Minister Imran Khan said initiatives like ‘Make in Pakistan’ were immensely important for the economic development of the country.
“We need to promote such initiatives and the government will fully support such projects which are aimed at producing jobs and boosting the economy,” he said. “This investment is an indication of foreign investors’ confidence in the market of Pakistan.”
Pakistan, China may sign deal for investment in agriculture
The two sides have established Deli-JW Glassware Company Limited for the project. Pak-China Investment Company is facilitating Chinese investment in Pakistan and is also assisting in financing the project.
The project will utilise natural resources in Pakistan and use latest technology to convert into glassware, float glass and other kinds of glass products.
The project will be set up in the Industrial City M-3, Faisalabad whereas the unit for the processing of key raw material will be set up in Risalpur, Khyber-Pakhtunkhwa.
Pakistan needs to improve competitiveness to attract FDI
The main glass manufacturing complex will comprise glassware manufacturing units, float glass units and other value-added glass products. The groundbreaking for phase-I of the project was held on Thursday and it will start production by the end of 2019.
Deli China and JW SEZ Group have joined hands for establishing a $200 million modern glass manufacturing complex in Pakistan for the production of premium, export-quality glass products.
In this regard, the groundbreaking ceremony was held at the Prime Minister’s Office where prominent businessmen, government officials and a Chinese delegation were present.
Commenting on the initiative, Prime Minister Imran Khan said initiatives like ‘Make in Pakistan’ were immensely important for the economic development of the country.
“We need to promote such initiatives and the government will fully support such projects which are aimed at producing jobs and boosting the economy,” he said. “This investment is an indication of foreign investors’ confidence in the market of Pakistan.”
Pakistan, China may sign deal for investment in agriculture
The two sides have established Deli-JW Glassware Company Limited for the project. Pak-China Investment Company is facilitating Chinese investment in Pakistan and is also assisting in financing the project.
The project will utilise natural resources in Pakistan and use latest technology to convert into glassware, float glass and other kinds of glass products.
The project will be set up in the Industrial City M-3, Faisalabad whereas the unit for the processing of key raw material will be set up in Risalpur, Khyber-Pakhtunkhwa.
Pakistan needs to improve competitiveness to attract FDI
The main glass manufacturing complex will comprise glassware manufacturing units, float glass units and other value-added glass products. The groundbreaking for phase-I of the project was held on Thursday and it will start production by the end of 2019.