PM invites China’s NORINCO firm to invest in KCR, other projects

BEIJING: Prime Minister Shehbaz Sharif on Thursday invited the China Northern Industry Corporation (NORINCO) to invest in Pakistan’s communications infrastructure project, particularly the Karachi Circular Railway (KCR).

The prime minister, talking to the NORINCO chairman, highlighted that the Pakistan government was taking measures to bring ease of doing business and had established the Special Investment Facilitation Council (SIFC) for the purpose.

He said that China and Pakistan enjoyed cordial and time-tested friendly relations which were strengthening with the passage of time, the official news agency reported.

The NORINCO chairman particularly mentioned Punjab and Pakistan Speed, referring to the swift completion of development projects during Shehbaz Sharif’s stint as Punjab chief minister, and also appreciated him for ensuring projects’ quality under his supervision.

The company head recalled that under Shehbaz Sharif’s supervision, the Lahore Orange Line project was completed timely.

Later, a representative of NORINCO, in a statement said that in the meeting with the prime minister, they discussed the Lahore Orange Train project which was an important component of the China-Pakistan Economic Corridor and a symbol of Pak-China friendship.

He said both countries worked jointly on the said project and reiterated that NORINCO would come up with new projects to continue contributing to Pakistan’s development.