LAHORE: The Punjab government has signed a $350 million agreement with Chinese company, Yantai Baoqiao Jinhong (YBJ), to build a state-of-the-art cement plant in the Salt Range.
The agreement was signed in presence of Chief Minister Shahbaz Sharif, while Secretary Minerals Arshad Mahmood and YBJ Chairman Li Baolu signed the document. Sharif said that this will stimulate Chinese investment.
Addressing on the occasion, Sharif said the Punjab government welcomes investment by Chinese companies in the cement industry. He said that all facilities are being provided to promote foreign investment and Punjab government will extend maximum cooperation in the establishment of the cement plant. Sharif further noted that this agreement will result in transfer of technology to Pakistan.
“The Punjab government wishes to benefit from Chinese technology in other sectors as well,” said Sharif. “A number of Chinese companies are already investing in Punjab due to which economic cooperation and friendly relations between the two countries have strengthened.”
