ISLAMABAD: A Chinese company RUYI will invest US $2 billion in Pakistan’s energy and textile sectors in next two years.
Chairman of the RUYI Group, Yafu Qiu in a meeting with Prime Minister Muhammad Nawaz Sharif held at the PM House said his company would construct two coal-fired power plants in Pakistan each having power generation capacity of 300 megawatt.
Prime Minister Nawaz Sharif said Pakistan is one of the emerging economies of world and the government is making structural reforms to make the economy attractive for the local and international investors.
He said Pakistan provides ample investment opportunities in energy infrastructure and textile sectors.
The Prime Minister said the government was pursuing investment friendly policies and would like the worldwide investors including Chinese to invest in Pakistan.
He said the investment would not only create job opportunities to the skilled youth but would also lead to introduction of new technology in textile sector.
The Chairman RUYI Group said after getting GPS Plus status Pakistan has become an attractive place for investment in textile sector.
He said that Pakistan has a booming textile sector and taking advantage of the available opportunities, his company had planned to invest in textile sector besides production of high quality yarn.
He said they were encouraged by the support and assistance provided by the government of Pakistan in this regard.
Governor Punjab Chaudhry Muhammad Sarwar and Chairman Board of Investment Mifta Ismael were present.