Two major Chinese investment groups have expressed interest in launching large-scale projects in Punjab, proposing multi-billion-rupee investments across the textile, auto parts and transport sectors, officials said on Thursday.
In a meeting with Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain at the Punjab Small Industries Corporation (PISC) House, representatives of Shenzhen Sea Energy Power Holding Company and Zhihyuzun Group outlined their investment plans and sought facilitation for project execution.
According to the provincial government, Shenzhen Sea Energy intends to invest in new textile and auto-parts manufacturing units, while Zhihyuzun Group has proposed a Rs3 billion investment in Punjab’s transport sector. Together, the planned projects are expected to generate around 21,000 jobs.
Patrick, who led the Shenzhen delegation, told the minister that the group requires 250 acres in the Quaid-i-Azam Business Park, Sheikhupura to establish manufacturing facilities. “Our company is looking to set up textile and auto parts units, and we are seeking land allocation to move forward,” he said.
Zhihyuzun Group head Mr Luo said the company plans to roll out an intercity bus project under a public-private partnership. “The first phase will include 120 buses, followed by another 300 in the second phase. If the project performs well, we will also shift our bus manufacturing plant to Punjab,” he stated.
Minister Shafay welcomed the proposed investments and assured full government support. He said Punjab’s Special Economic Zones offer extensive opportunities for foreign investors with dedicated incentives. “Punjab has become the first choice for investors due to its favourable business environment,” he said, adding that a community centre for foreign investors is being established in the Faisalabad Industrial Estate.
He also noted that Chinese companies can obtain industrial land on a 30-year lease, extendable for another 30 years, facilitating long-term relocation plans.
The meeting was attended by Punjab Board of Investment & Trade (PBIT) Director Dr Imran Hashmi, Executive Member Wahab Tariq Butt and other officials.
