LAHORE: A UAE-based firm has announced to invest $10 million in engineering and construction industry of Pakistan.
The Bilal Group has acquired stakes in Zealcon Engineering (Pvt) Ltd Pakistan, which has emerged as a major player in the engineering industry of Pakistan, having already completed major projects like Mehar Gas Development Project, UCH Gas Project, Niamat Gas Fields, Engro Elengee Terminal Project, Byco Refinery and Lahore Metro Bus Project. This new merger of the two companies will certainly boost the operations of the company and would open new avenues in MENA region also.
A merger agreement has been signed by the two companies in Dubai by Ali Bilal Chairman of Bilal and Shaikh Azhar Ali Chairman Zealcon Engineering.
Shaikh Azhar Ali, in a press statement, commented: “This is an effort to make sure transfer of heavy construction plants and equipment to Pakistan besides the expertise of a world class company. This certainly shows the confidence of the overseas investors in Pakistan’s economy as well as its political stability. The interest shown by the foreign investors in our nation would certainly attract other people from the West.” he added.
