Chinese Group to establish ceramic unit in Faisalabad with $70 Million
- Chinese group to establish a ceramic unit in Pakistan
- FIEDMC – An attractive destination for foreign companies
- Work on Special Economic Zones
- Facilities by the Chinese group
- Demand for ceramics
- Pakistan is a profitable market for international investors
A prominent Chinese industrial group is planning to establish a ceramic unit in Pakistan with an investment of $70 million.
A senior official from the Faisalabad Industrial Estate Development and Management Company (FIEDMC) told that this ceramic unit will lessen the country’s reliance on imported tiles.
“The ceramic unit is expected to become operational by March 2020,”he told.
Located in heart of Pakistan’s industrial hub, the FIEDMC is speedily transforming into an attractive destination for well-known foreign companies.
Chinese companies plan to set up their units:
These companies are planning to set up their units for the progress of Special Economic Zones (SEZs), construction of all these are under the China-Pakistan Economic Corridor (CPEC).
Aamir Saleem, the Chief Executive Officer of FIEDMC said,
“The Chinese industrial group already enjoys its presence in 50 countries,”
adding that the group plans to import machinery from China and aims to complete work by March 2020.
Land in industrial hub:
100 acres of land in the industrial hub has been already acquired by the Chinese Group, the hub is connected with ports through a network of motorways, under the China-Pakistan Economic Corridor (CPEC).
This is after the inauguration of the CPEC that has diverted the focus of Chinese groups from other countries to Pakistan.
Work on the Special Economic Zones:
Both China and Pakistan aim to start up work on the Special Economic Zones in different regions.
But Pakistani authorities are unable to develop these zones so far because of the absence of utilities and motivational packages for the relocation of industries from China.
Presently, Pakistan imports ceramics from different countries, which is now expected to come down after the Chinese unit starts running.
The Chief Executive also emphasized that it would be the first foreign ceramics factory in Pakistan, although the name of the company didn’t disclose by FIEDMC.
The company will help in providing employment among rising joblessness in the third largest city in the country.
Setting up retail shops:
The Chinese company has also planned to set up retail shops in various cities of Pakistan.
Demand for ceramics:
A huge change in the construction of shopping malls and designs of homes has flashed heavy demand for ceramics.
In the market, many locally manufactured ceramic tiles are available but most customers prefer imported tiles from China and other countries.
Consumers’ desire for ceramics products:
Middle-end customers prefer Chinese ceramics, High-end consumers desire to buy Italian and Spanish ceramics products and rest of the customers choose to purchase local tiles.
Pakistan – A profitable market for international investors:
Pakistan has a beneficial market for international investors and has great demand for their products.
The Chinese company is planning to produce all varieties of tiles; for washrooms, for kitchens and for outdoors.
Source: Express Tribune