Mutually beneficial: Chinese company asked to set up gas plants

BoI chief briefs Chinese about investment opportunities.

ISLAMABAD: The Board of Investment (BoI) has invited China Petroleum Company (CPE) to participate in the bidding for establishing gas processing plants in south Punjab and Hyderabad where 700 million cubic feet of gas will be provided by the government every day.

In a meeting with CPE Chairman Chi Shangdaong and his six-member delegation, BoI Chairman Dr Miftah Ismail told the Chinese that Pakistan was committed to providing an investment-friendly environment for investors by offering lucrative fiscal incentives and creating conducive business conditions.

He briefed the delegation about investment opportunities in the oil and gas and power sectors of the country.

CPE is an international engineering company focusing on surface facilities of the upstream petroleum industry. It is headquartered in Beijing with eight branches and subsidiaries in China as well as 12 overseas branches and subsidiaries.

Shangdaong gave a detailed presentation on the capacity and working experience of his company and said it was the biggest petroleum engineering company of China.

“China Petroleum is already working in Pakistan and its two projects are almost functional and it is looking forward to making further investment in the country,” he said.

CPE has completed over 25,000 projects in China and abroad which include projects in the Middle East, Central Asia, North Africa, America, Australia and Europe. He pointed out that China and Pakistan had entered into a comprehensive multifold plan of economic development.

Published in The Express Tribune, July 10^th,  2015.

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