A Chinese company will invest $50 million in Gwadar and Karachi

Islamabad: According to a news source, China and Pakistan are to develop agriculture, power, and logistics in Gwadar and Karachi.

A memorandum of understanding (MoU) has been signed between the Optima Integration group of China and Asia Pak Investments of Pakistan for an investment of $50 million in the first phase.

More than 100 jobs will be created in both Gwadar and Karachi as a result of the agreement, facilitated by the board of investment.

Sam Siu, the chairman of Optima Integration, and Sino Pak Optima Technologies chief will sign a pact aimed at promoting business-to-business agriculture cooperation between both sides.

By virtue of the agreement, a seafood supply chain end-to-end will be established.

Pakistan has received approval from the general administration of customs of the people’s republic of China to import 79 species of fish. It is also planned to expand the project to include beef.


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