It appears that China will set up a melting plant in Gwadar, Balochistan. The investment will value at $4.5 billion. China and Pakistan signed the agreement for investment during PM Khan’s recent trip to China.
The two sides highlighted the significance of Gwadar as a central pillar of CPEC and an important node in regional connectivity. The two sides agreed to jointly accelerate the construction and operation of Gwadar Port and build its low-carbon circular industry zone. They agreed to build high-quality livelihood projects for the socio-economic development of Gwadar city and its residents.
Read more: Emerging challenges and opportunities for Gwadar and CPEC
Earlier, Information Minister Fawad Chaudhry, while talking to a private media channel on the success of PM’s visit, revealed that China will invest $4.5 billion in the melting project. Important to note, Balochistan is rich in minerals. Additionally, Fawad Chaudhry also stated that China will further invest around $2 billion in mining projects.
گوادر میں 4.5 بلین ڈالر کا دھاتوں کو پگھلانے، 2 بلین ڈالر کا مائننگ پراجیکٹ لگنے جا رہا ہے۔ بزنس گروپ جیسے چائنہ انرجی واٹر مینجمنٹ، انرجی، ٹرانسپورٹیشن میں انویسٹ کرے گی۔ اس دورے سے کل 15 سے 20 بلین ڈالر کی سرمایہ کاری آئے گی۔@fawadchaudhry https://t.co/s9MXPOE0VY
— PTI (@PTIofficial) February 6, 2022
Additionally, there are reports stating that Pakistan and China signed different agreements worth $10-15 billion dollars.
Another Great News:
A $4.5 billion dollars metal melting plant signed up to be set up in Gwadar Balochistan.
Total investment COMMITTED not promised, but Commited in this PM @ImranKhanPTI trip to China is…..
$15 BILLION DOLLARS.
— Mir Mohammad Alikhan (@MirMAKOfficial) February 6, 2022
Prime Minister Imran Khan’s visit to China was indeed a massive success. The two sides reiterated commitment on various fronts.
Pak-China joint statement
Shortly after PM Khan’s visit, China and Pakistan released a joint statement giving a brief overview of the meeting between the two countries.
PM Imran briefed President Xi on the people-centered geoeconomics vision. He talked about the government’s policies for Pakistan’s sustained growth, industrial development, agricultural modernization and regional connectivity.
He also lauded China’s continued support and assistance to Pakistan’s socio-economic development in the form of the high-quality development of CPEC.
Read more: Pakistan China relation: friendship turned into business?
During the meeting, the PM also shared his views with the Chinese president on the growing polarisation in the world, which threatened the unraveling of global developmental gains and posed serious risks to the developing countries.
During the interaction, Pakistan also reaffirmed its commitment to the security of all Chinese personnel, projects and institutions in Pakistan.