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| November 13, 2006 | Monday | Shawwal 20, 1427 |
Chinese companies to invest in Gwadar
QUETTA, Nov 12: Leading Chinese companies will invest in macro- and micro-level projects in Balochistan, especially in the new port city of Gwadar.
The Karachi-based Chinese Consul General, Sun Chun Ye said this while speaking at a round-table conference held in the port city of Gwadar on ‘‘Pakistan’s economic relations with China, with reference to the province of Balochistan”.
The Balochistan Economic Forum has organised the conference that was attended by senior executives of leading Chinese companies and business leaders from Karachi and other parts of the country.
The Chinese envoy, who flew to Gwadar for attending the conference, said that with the passage of time economic and business relations between Pakistan and China would assume new heights and his country would extend maximum help and cooperation to Balochistan for making it an important strategic business and trade hub in the region. He was optimistic about the high-profile economic potential of Gwadar.
Speaking about the future of the new port city, he said that ignoring all security apprehensions the Chinese companies were improving their commercial investment in Balochistan.
‘‘China and Pakistan are enjoying very cordial relations and are helping each other in all sectors,’’ Mr Ye said, adding that these time-tested relations would further strengthen in future. He said that construction of the Gwadar port was a great proof of cordial and close relations between the two countries.
The executives, including Zou Jlanhul, President and Chief Executive of MMC Resources Development Company Ltd, made presentation on the Saindak gold-copper and Duddar lead-zinc projects.
The assistant manager, China Harbour Engineering Company, Haijun Sun, spoke on the Gwadar deep seaport while Shen Ganhua, chief representative of the Beixin Road and Bridge Construction Company, informed participants about the progress on the Gwadar-Turbat Road project.
The president of the Balochistan Economic Forum, Sardar Shaukat Aziz Popalzai, while presenting an overview offered an impressive economic profile of Balochistan and the Gwadar Port city.
He appreciated the involvement of local manpower in the Chinese projects as China was the leading foreign investor in Balochistan.
‘‘Chinese investments have given confidence to the local tribes and now businessmen are considering their direct participation in the economic development of the province,’’ Sardar Popalzai said.
The project director of Gwadar Industrial Estate, M. B. Magsi, briefed the participants on its progress.
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