Punjab government signs MoU with Chinese cement company for setting up of a modern cement plant

Lahore: A memorandum of understanding was signed between Punjab government and Chinese cement company, Yantai Baoqiao Jinhong regarding setting up of a modern cement plant in Salt Range. Punjab Chief Minister Muhammad Shehbaz Sharif was the chief guest at the signing ceremony held at Model Town. Under the agreement, the Chinese company will set up a latest cement plant in Salt Range with an investment of 350 million dollars.

Secretary Minerals Dr. Arshad Mahmood and Chairman of the Chinese company Li Baolu signed the document. Speaking on the occasion, Chief Minister Shehbaz Sharif said that the agreement between Punjab government and Chinese company regarding setting up of a modern cement plant will result in Chinese investment and benefiting from Chinese technology besides creation of job opportunities. He said that Punjab government welcome investment by Chinese company in cement industry in the province.

Shehbaz Sharif said that all out facilities are being provided to foreign investors regarding investment in the province and Punjab government will also extend maximum cooperation to the Chinese company in the establishment of the cement plant. He said that establishment of latest cement plant by the Chinese company in Salt Range will also result in transfer of modern technology. He said that Punjab government wants to benefit from Chinese technology in other sectors as well. He said that a number of Chinese companies are already making investment in Punjab due to which economic cooperation and friendly relations between the two countries are strengthening.

Shehbaz Sharif said that China is investing billions of dollars in Pakistan under historic Chinese package of investment. He said that mega projects are being established in energy, infrastructure, industry and other sectors under CPEC. The Chief Minister said that a new era of economic cooperation between Pakistan and China has started after the visit of Chinese President to Pakistan. He said that China is a great friend of Pakistan and helped it in every hour of need. He said that friendship between Pakistan and China is unprecedented in the history of the world.

The Chairman of the Chinese company said that his company wants to set up a state of the art cement plant in Punjab which will be environment-friendly and based on modern technology. Members of Chinese delegation said that Pakistan is their second home and they will be pleased to invest in the country.

Chinese delegation strongly condemned suicide blast in Attock and expressed deep sense of grief over the loss of precious lives of Provincial Minister Col. Retd. Shuja Khanzada and others. Provincial Minister for Minerals Ch. Sher Ali, President Pak-China Yantai Chamber of Commerce Cheng Xiaoyun, Vice President Yang Qing, President of the Chinese company Luan Shengbo and other representatives of the company besides Press Secretary to Chief Minister Shoaib bin Aziz and concerned officials were present on the occasion.