Chinese cement company Yantai Baoqiao Jinhong has signed an MoU with the Punjab government to establish a US$350 million cement plant in Salt Range. The plant will be built with modern, environmentally friendly Chinese technology.
Punjab’s Chief Minister Muhammad Shehbaz Sharif attended the signing ceremony and spoke of his hopes that more Chinese investment will enter the region and that Punjab will benefit from Chinese technology in other industry sectors.
China is investing billions of dollars in Pakistan in the fields of energy, infrastructure, industry and other sectors.
Pakistan’s Attock Cement reported a 9.5% rise in PAT in FY15 and has announced plans to expand production capacity with the construction of a new line.
Bestway Cement signs MoU with NUST Institute of Civil Engineering for research and development on innovative cement solutions for construction in Pakistan.