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Chongqing companies to invest $400 mn in Pakistan's Sindh

27
Sep '18
Chongqing companies to invest $400 mn in Pakistan
Member companies of China's Chongqing Federation of Industry and Commerce will invest $400 million in trade and industrial projects in Hyderabad and other parts of Pakistan’s Sindh province, federation representative Zhang Yang recently said. A memorandum of understanding (MoU) has been signed in this regard with the Hyderabad Chamber of Commerce and Industry (HCCI).

The MoU was signed in China in May, Yang told a press conference in Hyderabad.

The sectors include textile and clothing, steel, real estate, agriculture, tourism, education and training, municipal and solid waste disposal, according to Pakistani media reports.

“This MoU is part of the CPEC as 34 Chinese companies will be making investments in various sectors” former HCCI president Seth Goharullah said.

A formal agreement between the mayors of Chongqing and Hyderabad would be signed in October in Pakistan, HCCI's vice president Ziauddin said. (DS)

Fibre2Fashion News Desk – India


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