Federal Minister for Planning and Development Asad Umar has said that the projects under the China Pakistan Economic Corridor (CPEC) are expediting & progressing at a fast pace.
Umar expressed these views was addressing the reception ceremony of first consignment, carrying equipment and machinery for Century Steel at Karachi Port, for setting up of a steel mill in Rashakai Special Economic Zone.
The launching ceremony was attended by CPEC Authority Chairman Asim Saleem Bajwa, Chinese Consul General in Karachi Li Bijian, representatives of Century Steel, officers of KPT and others.
Asad Umar said that the government working day and night for the success of CPEC which has now entered its second phase and the CPEC projects are now not only confined to infrastructure but energy based projects are also underway for the progress & prosperity of the country.
The federal minister termed the ceremony as manifestation of the cordial relations exist between the two brotherly countries China and Pakistan.
Federal Minister informed that a Chinese firm CRBC has entered the agreement with Pakistan under CPEC to promote foreign investments for development and marketing in Rashakai Special Economic Zone (SEZ).
The minister informed that the Century Steel, a Chinese firm with the investment of $240 million, would set up a steel mill in Rashakai SEZ which would produce about 1.5 million tonnes of steel.
The firm would also provide jobs to 600 Pakistanis during construction phase while in second phase over 1,000 people would be employed.
The federal minister also lauded the untiring and marvelous efforts of Chairman CPEC Authority Lt Gen (retd) Asim Saleem Bajwa in completion and expediting of the CPEC project at miraculous fastest pace.
Chinese Consul General in Karachi Li Bijian while speaking that said that due to the concerted efforts of the government of Pakistan & CPEC Authority the economy of the country was strengthening and gaining momentum despite the negative effect of global pandemic, especially the construction sector had been witnessing faster growth and the demand for steel had increased.
Li Bijian said, “Because of the brilliant efforts from both sides China and Pakistan the first phase of CPEC had completed.”
“We are quite confident to attract more and more investments” in Rashakai SEZ, Li Bijian said.
The consul general thanked the federal government particularly the chairman CPEC Authority, Asim Saleem Bajwa for his exceptional & brilliant efforts and tremendous support to speedup CPEC projects and for its timely completion.
He said that “it was an honour for me to witness the reception of the first consignment carrying equipment and machinery for Century Steel and it was only the beginning”.