LAHORE: A Chinese company Oreal Ceramics has been allotted 37 acres of land for setting up ceramic manufacturing unit with an investment of US $70 million at the Bhalwal Industrial Estate.

Sources told Business Recorder that the Bhalwal Industrial Estate was established on an area of 450 acres in Sargodha district and being managed by Punjab Industrial Estates Management and Development Company (PIEDMC). The company has spent Rs 210 million on infrastructural development during the last two years while the federal government has already given the status of special economic zone to the Bhalwal Industrial Estate.

The Oreal Ceramics is likely to start its production in near future as its building is near completion. The production of ceramic tiles by the Chinese company within the country would help save foreign exchange being spent on the import of ceramic tiles, the sources said.

At present, Pakistan imports ceramics from different countries and country’s ceramic import volume would decrease once the Chinese ceramic company starts its production. This would also help in employment generation in the area. Apart from the local renowned brands, Italian, Iranian and Chinese tiles are sold in the local markets. But Chinese tiles for being cheaper have good share in the market.

It is the first direct foreign investment during the second year of Pakistan Tehreek-e-Insaf (PTI) government. The PIEDMC is providing all facilities to investors at a large scale and particularly foreign investors not only in Bhalwal industrial Estate but all the seven-industrial Estates controlled by it. The Punjab Industrial Estates under one window service center is providing all services to investors and industrialists within stipulated time period.

Copyright Business Recorder, 2020