Punjab Board of Investment, Chinese firm sign MoU for $15 million dry battery plant

The Punjab Board of Investment and Trade (PBIT) has signed a Memorandum of Understanding with Chinese firm Dongjin Power Tech to establish a dry battery manufacturing plant in the province with an initial investment of $15 million.

The agreement was signed by PBIT CEO Zeeshan Shabbir Rana and Dongjin Power Tech CEO Hu Ge.

Under the MoU, the Chinese company will set up the facility in a Special Economic Zone (SEZ).

Officials said the project is expected to support local manufacturing, create employment opportunities and reduce reliance on imported batteries.