China interested in $12 billion projects in Pakistan

'Pakistan Times' Federal Bureau ISLAMABAD: Pakistan and China have identified projects worth $12 billion, including Islamabad International Airport, oil refinery at Gwadar, Bunji Hydropower Project and Neelam-Jhelum Hydropower Project for Chinese investment.

In an interview, Minister of State for Investment, Umar Ahmad Ghumman, said that the leaders of both countries had discussed these projects costing $12 billion where China would like to invest in these projects, private TV channel (Aaj) reported.

Ghuman said that Chinese investors were very keen to invest in
infrastructure projects and the government would provide them every facility in this regard.

He said that Pakistan's biggest refinery, which would be established in Gwadar, would refine 60,000 barrels of oil per day.

Infrastructure

All infrastructure projects in the country would be processed through the Board of Investment (BoI).

The minister said that the country had attracted foreign direct investment (FDI) worth $1.6 billion during seven months of the current fiscal year, and expressed hope that it would reach $3
billion by the end of the year.

He said Sialkot international airport was likely to be inaugurated in July. The airport is being constructed by private sector. •