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China’s 12 Billion Dollar Pakistan Investment for Multiple Projects
With these investments, Pakistan is also going to build Islamabad International Airport and two hydraulic power plants at Bunji and Nilam-Jhelum, Ghuman told local press recently. Pakistan has attracted US$1.6 billion in foreign investments during the first 7 months of this fiscal year, starting last July. It is expected to attract furthermore US$1.4 billion in the rest of the fiscal year. China plans to invest US$12 billion in multiple projects in Pakistan, including the country’s largest oil refinery at Gwadar, the Oriental Morning Post reported. The Gwadar oil refinery, which is being planned and designed, is expected to reach a daily oil output of 60,000 barrels when it goes into production, China is also planning to foster its participation in Pakistan’s long-term economic development by investing US$500 million in a joint venture investment company.