SANY Group To Expand Investment In China Pakistan Economic Corridor (CPEC) Projects.
SANY Group, one of the China's top construction heavy machinery manufacturers, is planning to expand its investment in pakistan to help boost construction activities in projects specifically under China Pakistan Economic Corridor (CPEC).
"We are looking forward to help Pakistan by expanding our investment in the country and will provide our first class products and best services specially for the CPEC projects," President of SANY group Xiang Wenbo said while addressing a seminar titled "Interconnect Cooperation Partnership", organized by the SANY group here last night.
Wenbo said SANY was the biggest heavy machinery manufacturers company of China while it was the 5th largest company of the world which manufactures wind turbines, concrete machinery, hydraulic excavators, hoisting machinery, piling machinery, road machinery, piling machinery, mining machinery, and petroleum drilling machinery.
He said his company had 13 manufacturing factories around the world including Europe and USA which would produce over 500,000 units this year.
Meanwhile, Executive Director CPEC, Ministry of Planning, Shahid Rashid said work on CPEC projects was going on smoothly and so far six out of 15 energy projects had been completed.
He said the 15 energy projects under CPEC would produce 14000 MW of electricity and as many as 55,000 employments have been generated in these projects.
He said 95 percent of employees were from Pakistan while rest of five percent were from China.
He informed that there were six road projects under CPEC in which, 51,000 new jobs were created out of which 41,000 jobs were linked to Pakistan.
Rashid said there were three alignments of railway in the country and all the three are to be upgraded under CPEC.
He said so far 12000 jobs had been created in the upgradation of ML-1 railway project.
Shaukat Khattak from Ministry of Planning asked SANY group to establish a full fledged manufacturing factory in Pakistan to boost the construction activities of CPEC projects.
He said SANY should invest heavily in Special Economic Zones (SEZs) by availing the lucrative incentives offered by government of Pakistan to the foreign investors.
He informed that the CPEC would help Pakistan to increase its GDP growth by three percent in next five years and the projects under CPEC would also help generating 1.2 million in coming few year.