World News | Chinese Companies to Invest USD 15 Bn in Pakistan's Petrochemical Sector

Islamabad, Sep 19 (PTI) Chinese companies will invest USD 15 billion in Pakistan's petrochemical sector in Gwadar, including the project of energy pipeline from Gwadar to China, official media here reported on Sunday.

However, it was not clear if the projected investment is part of the multi-billion dollar China-Pakistan Economic Corridor or not. China is already carrying out various projects under the over USD 60 billion CPEC project, launched in 2015.

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Talking to the state-run Associated Press of Pakistan (APP) news agency, Board of Investment Secretary Fareeha Mazhar said Chinese companies have expressed their readiness to invest USD 15 billion in Pakistan's petrochemical sector.

The Chinese companies would invest in the petrochemical sector in Gwadar, including the project of energy pipeline from Gwadar to China, Mazhar was quoted as saying in the report.

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She said bilateral talks are underway for investment in various projects related to Chinese investment in Pakistan.

Mazhar expressed hope that Chinese companies would also invest in Pakistan's energy, agriculture, tourism and other sectors in the future.

The Gwadar Port, a part of the CPEC project, is the key node of the Pakistan-China oil and gas pipeline. India has objected to the CPEC as it passes through Pakistan-occupied Kashmir (PoK).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)