Chinese Group evinces keen interest to setup Steel Plant in Pakistan

ISLAMABAD, March 1: Li Dongwei, President, Ansteel International Trading Company, China has said that |Pakistan is the safe country for investment.
He said this during the meeting with Minister of State/Chairman, BOI Dr. Miftah Ismail and Secretary, BOI Iftikhar Babar. He visited Board of Investment along with 10-member delegation.
The Minister of State/Chairman, Dr. Miftah Ismail also highlighted the investment potential and opportunities available specifically for Chinese investors / companies in Pakistan.
Li Dongwei, President, M/s. Ansteel International Trading Company, China informed that M/s. Ansteel has made great contribution to the national economic construction in China. In the past 60 years, M/s. Ansteel cumulatively produced 375 million tons of pig iron, 381 million tons of raw steel and 277 million tons of rolled steel, and paid the tax and profit of 124.5 billion Yuan, equivalent to 23 times of the State’s investment for Ansteel, and also delivered nearly 60,000 outstanding cadres, engineers, technicians and skilled workers to the various parts of the country and provided the training of more than 11 thousand people across all kinds of talents. He also informed that integrated steel plant from Mining Rolling Mills, one of the largest steel making in China & also exporting to many countries of the world. MOS/Chairman, BOI informed that government encouraging the private sector for setting up Steel Mill in Pakistan. He also informed that Laws have been tailored to safeguard and ensure protection of investments. The foreign investment is fully protected under the Foreign Private Investment (Promotion & Protection) Act, 1976, and Protection of Economic Reforms Act 1992. -Online