Sindh will get another investment of US$ 250 million by Sinohydro Corporation Limited and Deer International Group Limited which would create 2500 new job opportunities in Sindh

Karachi, November 20, 2015 (PPI-OT):Chief Minister Sindh, Syed Qaim Ali Shah along with Senior Sindh Minister for Finance Syed Murad Ali Shah, Sindh Minister for Industries Muhammad Ali Malkani, Senator Saleem Mandviwala, Consul General China Mayaou, Chief Secretary Sindh Muhammad Siddique Memon, Chairman Sindh Board of Investment Dr. Asif Brohi and other dignitaries witnessed the signing ceremony of MoU between Sindh Government and Sinohydro Corporation Limited and Deer International Group Limited in a simple but impressed ceremony held at Chief Minister House, Karachi today to get another chunk of $ 250 million as fresh investment in the province.

The Director General, Sindh Board of Investment Iftikhar Ali Shallwani and Chairman / Chief Executive Deer International Group Limited Mr. He Ying signed the MoU on behalf of their organizations. The silent features of the MoU further revealed that the Sinohydro Corporation Limited in collaboration with Deer International Group to establish Cement Plants with new cement technology of zero percent pollution and low energy consumption, in Sindh Province which will bring Foreign Direct Investment (FDI) of USD 250 million and create 2500 new job opportunities to localities and also generate tax revenue of Rs. 3 billion per annum and also greatly improve peripheral economic investment and offer top quality and cheaper cements to fulfill the demand of infrastructure projects generally and project under china economic corridor, especially in the province.

Talking at the MoU Signing Ceremony, the Chief Minister Sindh assured the company for full co-operation for establishment of cement plant in Sindh which according to him was the needed to the province. He invited management of the company also to invest in potential investment in two important sectors i.e. Water and Energy sectors in the province.

He said that since Sinohydro Corporation limited was world largest water conservancy and Hydro Power Construction Company, it can efficiently exploit the indigenous resources available at Sindh for benefit of both side. He said that we are facing deficiencies in these sector which was the main hurdle in the four development.

He said that instead of having been Agro-based the Sindh was also rich in natural resources including Gas, Coal reserves, Wind Corridor where the opportunities of the potential investment were available. He said that we will welcome full investment and even we can be partner with investing organization under the PPP mode of investment.

The Chairman Standing Committee Finance for Senate Senator Saleem Mandiwala while speaking at ceremony said that it is milestone achieved by Sindh Govt. he said that this is the 1st phase and it to go ahead and in 2nd phase of investment, this company to enhance its investment up US$ 750 million. He said many more companies were in the way to invest in Pakistan / Sindh Province.

The Chairman of the Deer International Group Limited (DIGL) said that DIGL is a Chinese firm listed in the NASDAQ of USA seeks to invest in the manufacturing sector of Pakistan. Deer has grown as the biggest manufacturer of the blender of the world, products of the Deer are being sold to more than 80 countries. He said that the establishment of Cement Plants in Pakistan will be more important because of implementation on the China-Pakistan Economic Corridor in the Pakistan / Sindh Province.

Dr. Asif A. Brohi, Chairman, Sindh Board of Investment, (SBI) talking on the occasion briefed that Sinohydro Corporation Limited is a world’s largest water conservancy and hydro power construction company ranked on 23rd on ENR Top 250 national contractors, their core business cover water, infrastructure, power and communication work and their annual turnover is about USD 5 Billion and they have been investing in Pakistan since 1987.

The Additional Chief Secretary Aijaz Ali Khan, Senior Member Board of Revenue Muhammad Waseem, Secretary to C.M Sindh Allam uddin Bullo, Secretary Finance Sohail Rajput, Secretary Industries Ms. Shazia, and other officers of Sindh Government and Representatives from Chinese including Wang Zhihua, Economic and Commercial Counsellor, Yang Haito, Counsellor Attache, Consulate of Peoples Republic of China, Karachi, Zhang Wei, Vice President, Bank of China, Dubai Branch, He Ying, Chairman, Deer International Group Limited, Liu Zhong, Chief Representative, Sun Jinhui, Chief Contract Expert, Zhang Ping, General Manager Karachi of Sinohydro Corporation Limited in Pakistan were also present on the occasion.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +92-21-99202019
Cell: +92-300-3524057 (Ext: 336)