Gwadar & Karachi will receive $50m investment from Chinese company

KARACHI: In Gwadar and Karachi, Pakistan and China have partnered to improve agriculture, power, and logistics.

In this regard, China’s Optima Integration Group and Pakistan’s Asia Pak Investments have signed an agreement to spend $50 million in the first phase.

The arrangement, which was made possible by the Board of Investment, will result in the creation of over 100 jobs in Gwadar and Karachi, as well as the building of a high-tech processing facility and technology transfer.

The agreement, which was signed by Optima Integration Group Chairman Sam Siu and Sino Pak Optima Technologies Chief, aims to improve the two sides’ business-to-business (B2B) agricultural collaboration.

The two parties agreed to create a seafood supply chain from beginning to end.

The People’s Republic of China’s General Administration of Customs has approved the import of 79 species of fish from Pakistan.

In the long run, the initiative would expand from fish to beef and goat, beginning with beef export via cold chain transportation.