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China’s CPEC investment in Pakistan reaches $62 billion

Islamabad: China’s investment in its ambitious economic corridor project in Pakistan has reached $62 billion, jumping more than 34% from its initial investment of $46 billion, a top Pakistani official said on Wednesday. Sindh province governor Mohammad Zubair said China’s approved financing for several projects in Pakistan under the China-Pakistan Economic Corridor (CPEC) has reached… read more »

China overtakes US as top direct foreign investor in Pakistan

China is overtaking the US as the largest direct foreign investor in Pakistan, with the South Asian nation increasingly favouring its neighbour’s “One Belt, One Road” trade route that is funnelling in billions of dollars and revamping decrepit infrastructure.

With relations frayed between the United States and Pakistan, China has been strengthening its ties to the nation of about 200 million people after it pledged two years ago to loan and finance about US$55 billion (S$77 billion) in a so-called China-Pakistan Economic Corridor (CPEC).

US direct investment in Pakistan stood at US$505 million – from July 2013 to January this year, compared with US$1.82 billion that came from neighbouring China, according to central bank data.

Hyundai plans to set up assembly plant in Pakistan

KARACHI:  Nishat Mills Limited (NML), one of the largest integrated textiles mills in the country, on Friday announced that it has resolved to enter in to a Memorandum of Understanding (MoU) with Hyundai Motor Corporation (HMC), Korea and Sojitz Corporation, Japan to set up a green field plant to assemble Hyundai vehicles in Pakistan. The… read more »

KIA MOTORS to Setup Assembly plant in Pakistan

The board of directors at Lucky Cement has indicated that they plan to invest Rs 12 billion in an automobile company, Kia Motors Corporation, after investing in power sector. Lucky Cement will help in setting up operations of Kia Motors in Pakistan through its investments. Once these investments are done, the company will be kickstarting… read more »

German truck maker MAN SE to set up assembly plant in Pakistan

KARACHI:  German truck maker MAN SE is at an advanced stage of setting up a plant in Pakistan, industry officials say. Forecasting greater demand of heavy vehicles under the China-Pakistan Economic Corridor (CPEC), vehicle manufacturers are flocking to Pakistan to explore opportunities of investment with MAN SE being the latest addition to the growing list…. read more »

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