Industry

Chinese companies to invest $2 billion in Pakistan

Islamabad, March 6, 2019: Two Chinese companies have announced over $2 billion investment in construction and housing sector in Pakistan.

Global Sales President of Xuzhou Construction Machinery Group Co., Ltd. (XCMG) Dr Hanson Liu and Chairman HSS Group Syed Salman Hashmi met Prime Minister of Pakistan Imran Khan on Wednesday in Islamabad and discussed a number of development projects for Pakistan.

Prime Minister briefed the delegation about the government’s plan of 5 million houses project and said that this project has a number of investment opportunities for foreign companies.

He said that government is committed to provide a level playing field to all investors with business friendly policies and environment, which is the highest priority of the PTI government.

During the meeting both groups/ companies were agreed to invest in Pakistan and assured $ 2 billion investment in Housing and Manufacturing Sector to support the prime minister’s motive of low cost housing.

Chinese company XCMG also expressed his attention to join the Prime Minister housing scheme and also committed for a manufacture plant in Pakistan.

It may be mentioned here that XCG is the leading Chinese company providing chain construction industry machinery and it arrival in Pakistan will boost the investment opportunities in the country.

XCMG was founded in 1943. Since then, XCMG has stood at the forefront of the Chinese construction machinery industry and developed into one of the domestic industry’s largest, most influential, and most competitive enterprise groups with the most complete product varieties and series.

XCMG is the 6th largest construction machinery company in the world. It is ranked 65th in the list of China’s Top 500 Companies, 44th in the list of China’s Top 100 Manufacturing Enterprises, and 4nd in the list of China’s Top 100 Machinery Manufacturers.

XCMG is dedicated to its core value of “Taking Great Responsibilities, Acting With Great Morals, and Making Great Achievements” and its corporate spirit of being “Rigorous, Practical, Progressive, and Creative” in order to keep moving towards its ultimate goal of becoming a leading world-class enterprise capable of creating real value.

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