Chinese firm to invest $50m in Gwadar, Karachi

In that regard, Optima Integration Group of China and Asia Pak Investments of Pakistan have signed a memorandum of understanding (MoU) to invest $50 million in the first phase.

The agreement, facilitated by the Board of Investment, would create more than 100 jobs in Gwadar and Karachi, besides establishment of a high-tech processing facility along with technology transfer.

The pact, which was signed by Optima Integration Group Chairman Sam Siu and Sino Pak Optima Technologies chief, was aimed to enhance business-to-business (B2B) agricultural cooperation between the two sides.

Under the agreement, the two groups would set up an end-to-end supply chain of seafood.

The General Administration of Customs of the People’s Republic of China has approved 79 species of fish for importing from Pakistan.

In the long-run, the project would expand from fish to beef and goat – starting off with exporting beef with cold chain transport.