LAHORE - A memorandum of understanding was signed by Punjab Board of Investment and Trade, Shandong Yulong Real Estate Group and Roshan Packages Pvt Ltd here in Lahore.

Chief Executive Officer, Amena Cheema was representing PBIT, Sunato was representing Shandong Yulong while Tayyab Aijaz represented Roshan Packages.

The main objective of this MoU was to establish a 1200 acres green industrial estate near Lahore. This estate will house up to a hundred industrial units. PBIT will facilitate in identification of land; Shandong and Roshan Packages will invest all capital. Major Chinese businesses will be encouraged to set up their units here.

Roshan Packages in partnership with Shandong is all set to establish an eco-friendly paper mill with 40 million USD initial investment as soon as the land is identified.

PBIT CEO Amena Cheema said, “Green projects need to be encouraged and PBIT will provide all the possible facilitation to both the parties to set up an environment friendly project”.

The idea of developing an eco-friendly industrial estate was conceived by PBIT and was proposed to Shandong back in May 2015. This agreement is a follow up of the MOU signed back in May. Both parties also agreed to provide all facilitation to promote trade between China and Punjab, to generate investment leads and to organize trade fairs and seminars to bring together investors and businesses from both sides. Such partnerships and endeavors are taking Punjab into a new era of creativity and growth.