Chinese firm signs $50mn agreement for seafood export from Gwadar
ISLAMABAD – Islamabad and Beijing have joined hands to grow agriculture, power, and logistics sectors in Gwadar and the country’s largest city Karachi.
A Chinese firm has inked a memorandum of understanding (MoU) to make an initial investment of $50 million in the industrial zone of Gwadar for setting up an end-to-end supply chain facility for the export of seafood to China.
A report of the Pakistani state-run news agency said Optima Integration Group of China and Asia Pak Investments of Pakistan have signed an agreement to invest $50 million in the first phase.
The MoU, facilitated by the Board of Investment, would reportedly create more than 100 jobs in the southwestern region and Karachi, besides the establishment of a high-tech processing facility along with technology transfer.
The General Administration of Customs of the People’s Republic of China has approved 79 species of fish for import from South Asian country. Officials also planned to expand the project from fish to beef and goat in the second phase, starting off with exporting beef with cold chain transport.
The report suggests that the project will power both firms to export in large volumes and empower them to command a premium price.
FM Bilawal Bhutto discusses bilateral ties with ... 02:56 PM | 22 May, 2022
ISLAMABAD/BEIJING – Pakistan’s youngest Foreign Minister Bilawal Bhutto-Zardari discussed economic ...
Sam Siu, Chairman of Optima Integration Group of China, and Eusha Saleem Bajwa, Chief Executive Officer of Sino Pak Optima Technologies, signed the MoU on behalf of their respective sides.
Federal Minister and Chairman of Board of Investment, Chaudhry Salik Hussain chaired the signing ceremony together with BOI Secretary BOI, Fareena Mazhar.
China promises high-quality development of CPEC 09:10 AM | 17 Dec, 2021
ISLAMABAD – China has again reiterated to work with Pakistan to promote the high-quality development of China ...
- Shahzad Akbar used FIA against Dubai business tycoon in Sofia Mirza ...01:33 PM | 27 Jun, 2022
- OPPO receives eight prizes in the Computer Vision and Pattern ...01:12 PM | 27 Jun, 2022
- Pakistan revises travel advisory for domestic flights amid Covid-19 ...12:11 PM | 27 Jun, 2022
- Kubra Khan draws flak for her wardrobe choices11:39 AM | 27 Jun, 2022
- Watch: Shah Rukh Khan, Shehnaaz Gill set the stage ablaze with killer ...10:19 AM | 27 Jun, 2022
- Pakistan’s largest city Karachi still among world’s least ...06:26 PM | 23 Jun, 2022
- 42 Pakistani universities make it to Times Higher Education Asia ...07:52 PM | 1 Jun, 2022
- Four Pakistanis make it to Forbes 30 Under 30 Asia List 202209:53 PM | 28 May, 2022
- Five best Pakistani YouTube channels that would make your Ramadan ...12:24 PM | 15 Apr, 2022