A memorandum of understanding was signed on Wednesday by the Punjab Board of Investment and Trade, the Shandong Yulong Real Estate Group and the Roshan Packages PVT LTD in Lahore. Chief Executive Officer Amena Cheema, Sunato, and Tayyab Aijaz represented the board, the Shandong Yulong Real Estate Group and the Roshan Packages, respectively.
The main objective was to establish a 1,200-acre green industrial estate near Lahore. This estate will house up to 100 industrial units. The board will help identify the land while the Shandong and the Roshan Packages will invest in it. Major Chinese businesses too will be encouraged to set up their units there. The Roshan Packages partnering with the Shandong are to establish an eco-friendly paper mill with $40 million initial investment once the land is identified.