Two Chinese companies to set up plants in Pakistan

Two Chinese companies to set up plants in Pakistan aiming to provide affordable raw materials for local industries marking latest technology transfer to Pakistan.

Two prominent Chinese companies have announced plans to establish manufacturing plants in Pakistan, with one setting up an independent facility and the other forming a joint venture with a local company to produce raw materials for the textile industry.

Additionally, Both companies are expected to invest millions of dollars into these projects, aiming to provide affordable raw materials for local industries. Abdul Rahim Chughtai, the convener of the 9th Colour and Chemicals Expo 2024 and president of the Punjab Dyes and Chemicals Merchants Association, stated on Sunday that Napa Chemicals and Shao Shing Chemicals would be making investments in Punjab.

Joint Venture with Shao Shing Chemicals

He mentioned that Rainbow Industries would soon enter a joint venture with Shao Shing Chemicals. Chughtai emphasized that this Chinese investment would bring the latest technology transfer and advancements to the local dyes and chemicals industry. He also noted that the federal government has already announced a 10-year tax holiday, duty-free machinery imports, and the establishment of units in Special Economic Zones for foreign investors.

Furthermore, Chughtai pointed out that challenges such as law and order issues and high energy tariffs hinder foreign investment in the country. Rashidul Haq, the organizer of the expo, mentioned that the two-day 9th Colour and Chem Expo attracted over 300 exhibitors from the dyes, chemicals, and allied industries, including participants from China, Malaysia, Turkey, and Iran.

The exhibition, organized by Event and Conference International, Rainbow Group, and the Punjab Dyes and Chemicals Merchants Association, facilitated technology transfer, introduced new products, led to the signing of new contracts, and fostered improved interactions among companies, vendors, industry stakeholders, professionals, policy influencers, top-tier business leaders, and decision-makers across various sectors. Mr. Shi Xianping, Chairman of the China Dyestuffs Industry Association, also attended the event.