One of the key Chinese industrial groups decided to set up the ceramic unit in Pakistan worth $70 million.
The $70 million ceramic unit in Pakistan will be established at Faisalabad. However, it will decrease the Pakistan’s reliance on the imported tiles. According to sources, the new ceramic unit in Pakistan will starts its operation from March 2020. The news is also revealed by the Faisalabad Industrial Estate Development and Management Company or FIEDMC official.
FIEDMC is gradually transforming into the attractive destination for different foreign companies. However, they are planning to establish their units due to the lack of any significant progress related to Special Economic Zones or SEZs.
On the other side, after the emergence of China-Pakistan Economic Corridor or CPEC, Chinese investors are showing the great interest in Pakistan. Aamir Saleemi, FIEDMC Chief Executive Officer revealed that the Chinese group has already the presence in different countries.