ISLAMABAD, July 11: Prime Minister Shaukat Aziz has said the proposed project of $700 million by the Tethyan Copper Company (TCC) in Balochistan reflects the confidence of foreign investors to invest in Pakistan.

He was talking to a delegation of Tethyan Copper Company (TCC) led by Gregory Wilkins and Eduardo Flores. The TCC is a joint venture of the Canadian and Chilean mining companies.

Pakistan is endowed with mineral resources and is emerging as a very promising area for exploration of mineral deposits. These natural resources, the prime minister said, need to be tapped by both foreign and local investors by using latest techniques and state-of-the-art technology in this attractive field.

Mr Aziz said Gwadar deep-sea Port would help a great deal to export mining products from Balochistan. He said that the logistic chain through rail and road network was being improved throughout the country to reduce cost of doing business and facilitate investors.

He said currently about 52 mineral exploration projects were underway in Balochistan for exploration of copper, lead, Zinc, oil and gas. He said the increase in the mining activity would contribute substantially to the economic growth and exports in addition to creating job opportunities for the people.

Mr Gregory Wilkins appreciated the economic policies of the government and said that there was a huge potential in Pakistan for foreign investment in different fields. He said as a result of investment friendly policies, Pakistan had become a destination of choice for investors.