Home / Knowledge / News / Textiles / Ruyi Group to invest $2bn in Pakistan's textile sector
Ruyi Group to invest $2bn in Pakistan's textile sector
10
Jan '14
Mr. Sharif with the Chinese delegation
Mr. Sharif with the Chinese delegation
Chinese textile firm Shandong Ruyi Group is set to invest around US$ 2 billion in the textiles and energy sectors of Pakistan, over the next two years.
 
According to a statement issued by Pakistan Prime Minister’s Office, a delegation of the Chinese firm including chairman Yafu Qui recently met with the Prime Minister (PM) of Pakistan Muhammad Nawaz Sharif, at the PM house in Islamabad, where the chairman announced the investment.
 
Mr. Qui said that Shandong Ruyi will construct two coal fired power plants in Pakistan each having power generation capacity of 300 megawatt, and are also planning to invest in textile sector of the country besides production of high quality yarn.
 
According to Mr. Qui, after attaining the Generalized System of Preferences Plus (GSP+) status from the European Union (EU), Pakistan has become an attractive place for investment in textile sector, and the Chinese firm wants to take advantage of the booming textile sector of the country.
 
Prime Minister Nawaz Sharif appreciated the Chinese firm’s investment plans and said the investment would not only create job opportunities for the skilled youth in the country but also lead to introduction of new technology in the textile sector.
 
Mr. Sharif said that Pakistan is one of the emerging economies of the world, and the Government is also making structural reforms to make the economy attractive for local and international investors.
 

Fibre2fashion News Desk - India


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search