ISLAMABAD, March 9: President of MCC Tongsin Resources of China Zou Jianhui has expressed the desire to further invest in mineral projects of Pakistan.

Mr Jianhui who called on Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon here on Friday informed the latter that China Metallurgical Construction Company (MCC) has set up a subsidiary company - MCC Tongsin Resources, which would participate in metallic and non-metallic projects in Pakistan to be financed by the China Development Bank.

He said that MCC Tongsin Resources and Pakistan had recently signed a draft MoU in Beijing to cooperate in the mineral sector, which would be finalised during the forthcoming visit of Prime Minister Shaukat Aziz to China. Under the agreement a consortium comprising MCC tongsin Resources, China Development Bank and Pakistan would be formed.

Welcoming Mr Jianhui, the minister said that Pakistan and China enjoyed historic friendly relations, which had strengthened and flourished with the passage of time.

He said that there existed a lot of investment opportunities for Chinese companies in mining of huge deposits of iron ore, granite, lignite and precious stones found in various parts of the country. He said that Tongsin Resources's investment in the mineral projects would be warmly welcomed.

Senior Joint Secretary (Development) Jehangir Khan and other officials of the ministry were also present in the meeting. Ends.