LAHORE, 1 November According to Nong Rong, the Chinese ambassador to Pakistan, a Chinese company is investing a total of $150 million to build a textile industrial zone in Lahore on 150 acres of land.
The ambassador mentioned how Chinese investments in various projects will result in an annual foreign exchange income of $400 million and create 20,000 employees.
On Monday in Islamabad, the Ambassador was speaking at the opening session of the Pakistan-China Business and Investment Forum. He emphasized that the CPEC is currently shifting toward high-quality development that focuses on industrial, agricultural, technical, and socioeconomic cooperation.
To increase Pakistan’s export potential, he said, a Chinese company by the name of Challenge is spending $150 million in an industrial park in Lahore.
Modern fabric units, dyeing facilities, and garment manufacturing facilities will be found in this industrial park, which is close to the border between Kasur and Lahore. This would increase Pakistan’s exports of sportswear.