China agrees to invest $10bn in Pakistan

ISLAMABAD: China has agreed to invest $10 billion in new infrastructure projects in Pakistan, including ML-1 railway line.

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, who attended the 12th JCC meeting of the two countries in Beijing concluded a day earlier, is returning home today (Thursday) and is likely to make an announcement about further Chinese investment in various projects.

Ahsan Iqbal hosted a dinner for the Chinese companies working on CPEC projects.

The dinner was followed by a cake-cutting ceremony to commemorate the decade of CPEC (2013-23).

“China and Pakistan would benefit from greater Chinese investment in Pakistan. It would not only support Pakistan’s economy but also provide an avenue for Chinese companies to sell products manufactured in Pakistan in the Chinese market and elsewhere in the world,” he said.

Chen Diming, Chairman of China Apollo Holding Group, and Xu Hao, senior representative of China Ocean Engineering Construction Company, had meetings with the minister.