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Chinese firm shows keen interest in Pakistan Textile City
26
Jun '14
Hubei-based China Gezhouba Group Corporation (CGGC) has shown keen interest to invest in the Pakistan Textile City, an industrial zone dedicated to the textile processing and related industry, coming up in the Eastern Industrial Zone of Port Qasim Karachi, 6 km from the National Highway.
 
During his meeting with representatives of CGGC in Islamabad, Pakistan’s Minister of Textile Industry Abbas Khan Afridi said his ministry will make every effort to facilitate foreign investment which guarantees development and prosperity of the country.
 
The main focus of discussion during the meeting was on financial assistance, joint venture and infrastructure development at the Pakistan Textile City being set up on an area of 1,250 acres.
 
CGGC representatives told the Minister that the company has set aside US$ 15 billion for overseas investment, and Pakistan is their main focus because of its recent improved economic performance.
 
Pakistan Textile City will offer the textile processing industry the desired state-of-the-art environment to achieve cost effective high productivity. The facility will provide uninterrupted power, clean and continuous water supply, natural gas, effluent treatment and efficient transportation systems. Services will be streamlined as a one window operation and managed in a highly efficient and professional manner.
 
Moreover, the Textile City’s location at Port Qasim, a modern port, will facilitate import/export processing and transportation.
 
CGGC, established on the basis of the 330 Project Command Center founded in 1970 (named after the date of Mao Zedong’s field inspection to the site of the Three Gorges dam, March 30, 1958), is one of the first 56 large pilot enterprises specifically designated in the national plan.
 
The three core business sectors of CGGC are construction engineering and related engineering technology research, surveying, design and services; hydropower investment, construction and management; and real estate development and management. Centering on these three core sectors, CGGC has formed an industrial chain consisting of eight closely related and well coordinated business areas including construction, expressway management, cement production, civil blasting, real estate, finance, hydropower, and coal.
 

Fibre2fashion News Desk - India


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