Home / Knowledge / News / Apparel/Garments / Ruyi Group to invest $2bn in Pakistan's apparel park
Ruyi Group to invest $2bn in Pakistan's apparel park
07
Apr '14
Chinese textile firm Shandong Ruyi Group has signed a memorandum of understanding (MoU) with the Government of Pakistan’s Punjab, under which the firm will be investing US$ 2 billion in the Quaid-e-Azam Apparel Park that is being constructed in the region.

The MoU was signed at the Chief Minister of Punjab Shahbaz Sharif’s office, during a recent visit of a delegation including Luan Shun and Huaneng Shangdong from the Chinese firm led by chairman of the group Yafu Qiu.

Under the agreement, the Chinese textile firm would be providing technical assistance in the designing, planning as well as construction of the apparel park, and would be jointly working with the Punjab Industrial Estates Development and Management Company (PIEDMC), for the project.

Talking to the delegation, Chief Minister Sharif expressed gratitude towards the Ruyi Group for taking interest in the textile as well as energy sectors of the country.

The Punjab Government would be providing all the required facilities to the Chinese firm on a priority basis, he added.

During the visit, the Chinese Group also expressed interest for investing in the energy sector and informed the desire to set up two coal power plants of 660 mega watts in the city of Sahiwal in the region as well as two similar plants of 135 mega watts in the industrial estates of the country besides considering establishment of coal power plants near coal mines in the Salt Range of Punjab.

Earlier in January, representatives from the Ruyi Group had met with Prime Minsiter of Pakistan and discussed possibilities of investing in the textile and energy sectors of the country.

Last month, a delegation from Pakistan Government visited several industrial zones in various cities of China, including the industrial park of Shandong Ruyi Group, and during the visit representatives from the Chinese firm had expressed interest of investing in the apparel park.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 4th May 2016

Ahead of FTA talks with China, Lanka worried about TPP

Even as Sri Lanka prepares for the third round of talks for a Free...

Textiles | On 4th May 2016

IMF predicts Asian growth to remain strong

The International Monetary Fund (IMF) expects growth in Asia and the...

Courtesy: GMAC Cambodia

Apparel/Garments | On 4th May 2016

Cambodia’s garment exports rise 13% in Q1

Garment and footwear exports from the Southeast Asian nation of...

Interviews View All

Narendra Somani
Modelama Exports Limited

What are the challenges faced by an exporter in terms of funding and...

Brent Blum
Accenture

How do you envision the future of wearables in the fashion industry?

Victor Chao
Esmetex

Could you describe the global market for sportswear? Which are the...

Michael Kamm
Sympatex Technologies GmbH

Sympatex Technologies has been one of the leading global suppliers of high ...

Mr Martin Kleinebrecht
Johns Manville

Martin Kleinebrecht (40) is the Marketing Leader of Nonwovens Europe at...

Robin Grankvist
OrganoClick AB

<i><b>Robin Grankvist</b> talks about PFCs, additives and various...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search