LAHORE, Pakistan: Punjab Board of Investment and Trade (PBIT), Shandong ulong Real Estate Group and Roshan Packages (Pvt) Limited on Wednesday signed a Memorandum of Understanding (MoU) to establish a 1,200 acre green industrial estate near Lahore.
The PBIT Chief Executive Officer, Amena Cheema, Mr Sunato from Shandong Yulong and Tayyab Aijaz from Roshan Packages represented their respective organisations.
According to the MoU, the estate will house up to a hundred industrial units and PBIT will facilitate in identification of land, while, Shandong and Roshan Packages will invest all capital.Major Chinese businesses will be encouraged to set up their units there.
Roshan Packages in partnership with Shandong is all set to establish an eco-friendly paper mill with USD 40 mln initial investments as soon as the land is identified.
The PBIT CEO Amena Cheema said, “Green projects need to be encouraged and PBIT will provide all the possible facilitation to both the parties to set up the project.”
It is to mention that the idea of developing an eco-friendly industrial estate was conceived by PBIT and proposed to Shandong back in May 2015.This agreement is a follow up of the MoU signed back in May.
Both parties also agreed to provide all facilitation to promote trade between China and Punjab, to generate investment and to organise trade fairs and seminars to bring together investors from both sides. Such partnerships and endeavours were taking Punjab into a new era of creativity and growth, she added.
Source: APP
