China to invest $ 1.5 bln in Pak-China Science Park

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ISLAMABAD, Nov 25 (APP): China on Wednesday agreed to invest $1.5 billion to set up Pak-China Science Park in Islamabad.
Minister for Science and Technology Rana Tanvir Hussain in this regard signed a memorandum of understanding (MoU)with his Chinese counterpart un Urmaqi, said a press release issued here by the Ministry of Science and Technology.
The minister, who is on a visit to China, invited the Chinese friends to visit Islamabad in December to select location for construction of the Park by March 2016.
Rana Tanveer Hussain expressed his gratitude for huge Chinese investment in Pakistan.
He said China and Pakistan had a lot to share with each other in term of technology, expertise and business.
“We are looking to strengthen our mutual ties on economic as
well as technological fronts,” he said and added that the Science
Park would prove to be a link and strengthening project of the
China-Pakistan Economic Corridor (CPEC).
It would bring prosperity to the people of two countries, as
their premiers avowed while signing the CPEC MoU in July, 2013 in
China, he added.