Chinese company will set up Science and Technology Park in Punjab with total investment of $1.5 billion, which will generate around 150,000 jobs.

This was announced by a 10-member delegation headed by Qi Xinping, General Manager of Chinese government owned construction company Xinjiang (XPCC), during their visit to the office of Punjab Board of Investment and Trade Monday. Qi Xinping said that the purpose of this park will be research in technology and promotion of innovation.

Xinjiang also discussed the establishment of a logistics park spread across 1500 acres. The location of this facility will be along the Lahore-Islamabad motorway. The logistics park will have hotels, malls housings and storage facilities. Such logistics parks will help connect Pakistan’s trade corridors to all its investment hubs. Xinjiang is ready to begin construction of these parks in March 2016.

Qi said that this is not just an investment it is rather the fulfillment of Pak-China friendship which is higher than the Himalayas and deeper than the ocean.

The Chinese government will bring 100 business investors to the economic forum being held in March 2016 by PBIT.