5 MoUs signed between Sindh govt and Chinese
Meng Xiaowei, head of a 12 member Chinese delegation visiting Pakistan revealed in a press briefing that China is planning to invest billions of dollars in different sectors of Pakistan. The event was organized in partnership with the Sindh government and Global Ventures at a local hotel.
During the press briefing, it was revealed that over 50 Chinese companies are planning to invest in Sindh, with delegations from 12 companies already present in the initial phase. In this regard 5 MoUs have also been signed. The agreements include local assembly of electric cars, local manufacturing of solar panels, production of slow-release fertilisers, algae farming, and the establishment of a ‘medical city’ in the Dhabeji Special Economic Zone.
Investments include a state-of-the-art Medical City set to be developed near Dhabeji on 300 acres of land, with Chinese investors committing $1 billion to the project. This ambitious initiative will be completed in three phases over seven years, with the first phase expected to conclude in 2.5 years. The Medical City will feature a research and training center, pharmaceutical production units, and facilities for manufacturing surgical equipment, along with a full transfer of technology to Pakistan.
In addition to healthcare, Chinese companies are keen to invest in Pakistan’s food export sector. According to Idrees Gigi CEO Globam Ventures, they plan to export beef, mutton, and seafood to China, which annually imports $105 billion worth of food from countries like Brazil and Argentina. With Pakistan’s involvement, food export volumes could reach $5 billion within the next two to three years.
The Sindh government is also collaborating with Chinese investors to enhance the transport sector. Plans include introducing 200 electric buses and 10,000 taxis, as well as developing a high-speed train linking Karachi to Sukkur. This train is expected to reduce travel time between the two cities to just 2.5 hours.
In Thar, a Chinese company plans to establish a fertilizer production facility spanning 200 acres, using advanced coal-powered technology utilizing Thar coal. Meanwhile, Chinese investors are gearing up to manufacture 2.1 million solar panels, with capacities ranging from 2 to 5 kilowatts. These panels will be distributed to underprivileged communities through the Sindh government, aiming to uplift energy-deprived regions.
Additionally, Chinese companies are set to invest in Sindh’s agricultural and livestock sectors by providing fertilizers, seeds, and modern techniques to enhance productivity, further bolstering the region’s economic growth.
