Challenge Fashion Private Limited, one of China’s largest textile enterprises, will invest $150 million in Punjab to establish a state-of-the-art special economic zone on 100 acres.
The investment, made under the direction of Chief Minister Maryam Nawaz, marks a significant step in strengthening ties with China and boosting the textile industry in the province.
In a meeting on Wednesday, Chief Minister Maryam Nawaz, Chinese Consul-General Zhao Shiren, and Challenge Group Chairman Wego Hong discussed strategies for promoting investment and growth in the textile sector.
An MoU was signed between the Bank of Punjab and Challenge Fashion Private Limited to formalise the investment. The project will establish one of Pakistan’s largest and most advanced textile industries in Punjab, with a production capacity of two to eight million garments per month, using six million meters of fabric.
The initiative will create 18,000 jobs within eight months and 25,000 jobs in five years, while sourcing raw materials locally. The project is expected to generate annual exports worth over $100 million, with garments to be shipped to major American brands.
