GILGIT, Oct 29: A Chinese firm has visited Diamer district, 200km south of Gilgit, to assess the investment opportunities for establishing a match factory and furniture manufacturing factory and a small hydropower project, informed sources said.

The sources said the Chinese team after attending the Conference on Investment and Tourism Promotion held in Gilgit on Monday, showed its keenness to invest in mineral, hydropower and tourism sector for which they had sought more information.

They were briefed by the Northern Areas administration about the feasibility of various projects in the region and the Chinese agreed to start work on 22-megawatt power project in Nalter at a cost of 190 million dollars, the sources said. The sources further disclosed that there were more Sino-Pakistan joint ventures to be carried out in future aimed at developing Northern Areas.