Haji Ghulam signs MoU with Chinese firm for establishment of steel mill in KP

PESHAWAR, May 05 (APP):Former President Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Haji Ghulam Ali Saturday signed a Memorandum of Understanding (MoU) with a Chinese firm, Jin Kolin Group for establishment of a steel mill in Khyber Pakthtunkhwa.
Haji Ghulam Ali who is also former Senator is now a days heading a delegation of businessmen to Fuzhou city of Fujian province in China.
According to a press statement issued here, the MoU is signed between Director of ZKB industry, Mohabat Khan and General Manager Ching Won Metallurgical Limited Company for establishment of steel mill in KP with a capacity of producing 200,000 tons on annual basis.
In the MoU, understanding has also been reached for provision of machinery in six months period by Chinese firm.
While work on setting of mill will start in two months period. In this connection, Chinese engineers will soon visit KP.
Speaking on the occasion, Haji Ghulam Ali said investment by Chinese investors will promote people to people and government to government relations between both countries.
He said both the countries have exemplary friendly relations, but there is need of increasing people of to people contact through promotion of trade.
He said CPEC is a gift of Chinese government for people of Pakistan and this project will further strengthen our friendship.
The dividends of CPEC will not only be received by big investors but also by ordinary people of both the countries, he added.