Lahore: Norinco Group which is of Chinese origin has Signed an MOU with the Punjab Board of Investment & Trade (PBIT). Norinco group wishes to invest $20 Million for the establishment of a state of the art production facility near Faisalabad.
PBIT Chief Executive Officer Jahanzeb Burana received Won Johnof Norinco Auxin. COO FIEDMC Aamer Saleemi was also present on this occasion. Norinco is one of the Fortune 500 companies owned by the Chinese Government. It has been working in Pakistan since 1971. Its subsidiary Norinco Auxin Manufactures & supplies and global mining services. Norinco Auxin intends to invest $20 million in Pakistan in different phases for the establishment of a manufacturing facility operating on International standards.
Jahanzeb burana assured that PBIT will facilitate Norinco Auxin in every possible way and to expand their commercial engagement in Pakistan. PBIT will assist Norenco in the acquisition of more than 50 acres of land close to the industrial hub. A special economic zone will also be established by Norenco with the assistance of PBIT.
