China to Invest $15 Billion in the Petrochemical Industry at Pakistan’s Arabian Seaport

China, Gwadar, CPEC

Chinese investment companies are aiming to invest a massive amount of $15 billion in the petrochemical industry in Gwadar port, said the investment promotion agency on Sunday.

China has already invested huge sums in the Gwadar port city which is the backbone of a multi-billion dollar project, the China Pakistan Economic Corridor (CPEC) which is located in the northwest of Balochistan.

Board of Investment (BOI) secretary Fareena Mazahar told the press “ Chinese companies are aiming to invest in the petrochemical industry and also in the energy pipeline from the port city of Gwadar to China”.

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The meetings are being held on a daily basis and talks are underway regarding the investments and BOI is working on almost 50 reforms to create an easy and conducive investment environment to improve the investment ecosystem in Pakistan, she added.

Chinese leaders from business strata showed satisfaction in a meeting with Prime Minister Imran Khan about the security and policies regarding investment in Pakistan especially in Gwadar, a few months earlier 9 Chinese workers died in Blast.

Prime Minister Imran Khan would review the progress of the project on a monthly basis, he said in a meeting held with business leaders from China.

Related: Does Increase In FDI To Pakistan Make It a Better Country For Investment?

Pakistan security forces are working tirelessly to ensure the better security of the project and of Chinese workers working in Gwadar, said Interior Minister Sheikh Rashid Ahmed.

 

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