Pakistan to invest in cement, sugar plants in Sri Lanka
ECONOMYNEXT – Pakistani companies will invest in building cement and sugar factories in Sri Lanka under a series of investment deals signed during Pakistan Prime Minister Nawaz Sharif’s visit to the island.
Eight agreements were signed with total investments exceeding 700 million US dollars.
Gharibwal Cement Ltd. of Pakistan signed a deal with Maxton Holdings of Sri Lanka to set up a cement plant in the island
Two Sri Lankan firms are to develop hydro power plants in Pakistan.
One agreement is between Sri Lanka’s Maxton Holdings and Paidar Energy of Pakistan to develop a hydro power plant in Pakistan.
Sri Lanka’s Eagle Power and Stellar Rock also signed a deal to develop a hydro power project in Pakistan.
Another agreement was between Sri Lanka’s Granada Suppliers and Pak Hy-Oils Ltd. for a lubricant blending plant.
Granada Suppliers also signed a deal with Pakistan’s Paidar Shipping and Trading for co-operation in shipping while Lanka Business Consortium signed an agreement with HKH Enterprise for deep sea fishing in Pakistan.
Almar Trading of Sri Lanka and Service Industries have signed a deal to set up a shoe manufacturing plant.
The Federation of Chambers of Commerce and Industry of Sri Lanka signed a memorandum of understanding with Aman Centre for Entrepreneur Development in Karachi. (Colombo/January 05, 2016)