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Sunday, November 24, 2024

Home Business Chinese firm Zhengbang to invest Rs 800m in agri sector

Chinese firm Zhengbang to invest Rs 800m in agri sector

by News desk
March 9, 2021
in Business

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Observer Report
Islamabad

After the launch of China Pakistan Economic Corridor (CPEC)’s first Rashakai SEZ, colonization of the second CPEC Allama Iqbal Industrial City (AIIC) Faisalabad begins with planned Rs.53.6 b Investment.

Gwadar Pro quoting Board of Investment (BOI) on Monday stated that AIIC SEZ Committee accorded “approval to 15 applicants and allotted land of 320 acres”.

The applicants include a Chinese Firm Zhengbang Agriculture Pakistan Private Limited with a plan Rs. 800 million investment in the agri sector.

Amongst the other 14 local firms, Zahid Jee Textile Mills, Ocean Ceramics, and Ittehad Metals to initiate business establishments worth Rs.11.8 billion, Rs.11.2 billion and 7.5 b respectively.