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Sinovac to Establish Rs. 45 Billion Medicine Production Plant in Punjab

hydrabadi_arab

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A Chinese company, Sinovac Global, is all set to develop a production plant for plasma medicine products in the China–Pakistan Economic Corridor (CPEC) industrial zone in Faisalabad, Punjab.

In this regard, Vice-President (VP) of Sinovac Global, Gao Qiang, met with the Chief Minister (CM) of Punjab, Chaudhry Pervaiz Elahi, in his office and offered to invest $200 million (Rs. 45 billion).

The Chairman of Dean Holdings, SM Naveed, and the Chairman of Fazal Din & Sons, Suhail Ahmed Kabir, as well as the Secretaries of Industries, Primary & Secondary Health, and Specialized Healthcare, along with a delegation from Sinovac, attended the meeting.

According to the details, the Chinese company will also export goods worth $500 million and will be given land in Faisalabad’s Industrial City.

Moreover, CM Elahi said that the company will be granted all necessary facilities, as it will not only benefit the province but all of the country.

In addition, he remarked that it will generate employment opportunities and will set a new precedent for bilateral ties between both countries.

He appreciated the company’s commitment to spending billions of rupees and said that its decision to establish this facility is a defining moment for Pakistan.

Lastly, he thanked Sinovac for providing Pakistan with the vaccines during the peak time of the coronavirus pandemic.
 
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