LAHORE: A Chinese investor group has signed a major agreement with the Punjab government to develop a 300-acre industrial park in the province, the Punjab Industries, Commerce, Investment & Skills Development (ICISD) Department said in a statement.
According to the ministry, Sino Pak Tech Industry (Pvt) Ltd will bring $1.5 billion in foreign direct investment to establish the new industrial zone. The park will host manufacturing units in textiles, automotive, pharmaceuticals, and other sectors, generating thousands of jobs as production scales up.
“The Government of Punjab is providing every possible facilitation to foreign investors,” Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said in the statement, adding that the new investment will “usher in a fresh era of employment and industrial development in the province.”
The statement added that the Punjab’s Special Economic Zones are being upgraded with international-standard infrastructure. Under the Faisalabad Industrial Estate Development and Management Company (FIEDMC), additional facilities such as community centers and banking services are also being established to support incoming investors.
Sino Pak Tech Industry (Pvt) Ltd is part of a broader group of Sino-Pak industrial cooperation companies working to expand Chinese manufacturing and technology partnerships in Pakistan. Publicly available company information indicates that associated Sino-Pak entities, which including SINOPAK Electromechanica (Pvt.) Limited, provide a full suite of services for Chinese enterprises operating in Pakistan.
These include procurement, logistics, customs clearance, inland transportation, installation, and after-sales support for industrial machinery. –Agencies
