AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

ISLAMABAD: The Chinese company Metallurgical Corporation of China (MCC) Tongstin has expressed deep interest in increasing its investment in the mineral and mining sector in Pakistan.

The interest was shown by the Chinese company’s delegation led by its Chairman Wang Jaicheng that met with Prime Minister Shehbaz Sharif on Friday.

The company gave a detailed briefing to the prime minister regarding the construction of a mineral park in Pakistan and informed about the further investment plan.

The prime minister welcomed the Chinese company and said that the government is taking steps on a priority basis to increase foreign investment in the country.

The prime minister said that China is Pakistan’s long-standing friend and important partner in development, and added that China helped Pakistan in every difficult time, for which, the entire nation is grateful to the Chinese leadership and the Chinese people. He invited the Chinese company to invest in the mineral sector in Pakistan from mining to the production of export goods. In order to increase the exports of Pakistan, investment will be provided every facility for the extraction of minerals, their processing and export of their products.

The premier directed the concerned federal ministers and officers to consult with the Chinese company. He also directed to include the chief minister of Balochistan and relevant institutions and stakeholders of the province in the consultation process.

On Thursday, the delegation of MCC also met with the Minister for Planning and Development and Special Imitative, Ahsan Iqbal. The minister told the delegation that mining is a priority area of the China-Pakistan Economic Corridor (CPEC) Phase 2.

In response to the company’s request to seek inclusion of their latest project in CPEC, the minister directed them to prepare their proposal. It was discussed during the meeting that if their energy needs are met by establishing a national power grid, the operational cost of all mining projects in the province will be reduced.

The Saindak Copper-Gold Project in Balochistan is operated by MCCT Resources Development Company (Pvt) Ltd (MRDL).

The MCCT submitted a proposal of establishing a mineral industrial park in Pakistan which consists of copper/ lead/ zinc refining and deep processing, giving more value addition to the mineral products.

With the development of more mining projects, establishing such an industrial park will become feasible. The mineral industrial park will also attract investors to invest in metal refineries and processing plant which produces wires, rods, plate and other products.

Meanwhile, power supply, water supply, transportation and other industries can also develop to facilitate the industrial park.

Copyright Business Recorder, 2024


Comments are closed.

Chawla.i May 18, 2024 10:43am
M.C.C has earned 42biln usd from SANDAK project and its time to payback,authr concrnd shd do thier H.W to sit and negte with MCC to getback our resource earned profits which they have falsely taken
thumb_up Recommended (0)
Chawla.i May 18, 2024 10:47am
Its payback time of MCC, return Pakistan our resources earned 10bil usd at least and i know Chinese gov will support our legal point of view while knowing actual facts of MCC tricked us and plunder W.
thumb_up Recommended (0)
Chawla.i May 18, 2024 05:08pm
Baluchistan DMD dep knows what sandak did how they (MCC) manipulated and NOW its time our P.m should ask conern authority and i can also elaborate how chinese triked us and we shd discuss brotherly
thumb_up Recommended (0)