ISLAMABAD: Ministry of Railways on Thursday signed a Memorandum of Understanding (MoU) with leading state-owned Chinese company, China Gezhouba Group Corporation (CGGC).
The agreement is signed between RAILCOP, a subsidiary company of Pakistan Railways and the CGGC which is a subsidiary company of China Energy Engineering Corporation.
The MoU demanded RAILCOP to work as local partner of Chinese company in Pakistan to identify potential construction projects and relevant information.
As per agreement RAILCOP would also ensure complete cooperation in provision of engineers and supporting staff under the clause of human resource cooperation.
It is pertinent to mention here that presently, the CGGC company is working on 1.5 billion US dollars Neelum - Jhelum Hydro Project.
Recently, the company has also submitted expression of interest for National Highways Authority's Lahore - Karachi motorway project.
The company is renowned for providing one step services for the infrastructure, industry projects, feasibility study, engineering design, construction management, manufacturing, investment and operations particularly in the power sector such as Hydro Power Plant and Thermal Power Plant.
On the occasion of signing of MoU, Federal Minister for Railways Khawaja Saad Rafique ensured complete support and facilitation for the Chinese company.
The minister highlighted the importance of Pak - China friendship, saying "the relations between Pakistan and China are not only important to both the countries but it is very important for the peace and stability of the entire region".
He appreciated the business interest of Chinese companies in various sectors in Pakistan.
Saad Rafique directed Managing Director RAILCOP to extend every possible support to the Chinese company.
Mentioning the strategic importance of Pakistan, he said that Chinese companies could utilize presently operational railway track to access European markets for business. The track links Quetta - Tehran and eventually Istanbul.
Later, the Chinese delegation presented shield to the Minister.
Comments
Comments are closed for this article.