Pakistan welcomes Turkish private firms for mining investment

Karachi, Pakistan | September 13, 2007 by D-8 Secretariat

Turkish and Italian private firms are likely to invest over 100 million dollars in the field of granite and marble mining jointly with the country’s leading local firms in a span of one year, reported the Business Recorder of Pakistan.

In an interview, Dr Khursheed Nazim, President, E-commerce Gateway Pakistan (Pvt) Ltd, said on Tuesday (Sept 4th) that Italian and Turkish private firms had signed Memorandum of Understanding (MoU) with the City District Government of Karachi, local marble industry and with other construction sectors.

They also signed MoUs with the local furniture manufacturers, steel and its related products manufacturers during the Build Asia-2007 Exhibition. He said that 247 foreign delegates from 21 countries had participated in the exhibition besides numerous local private firms exhibited their products.

An Italian firm has signed MoU with a local marble industry to provide them latest equipment for granite and marble mining besides assisting them with their professionals to furnish raw marble blocks in line with the international standards, he said. Moreover, these agreements will also scale down the increasing graph of joblessness and poverty in the country and augment Gross Domestic Product (GDP) rate besides helping this sector to evolve sustainable development.

Syed Mustafa Kamal, City Nazim has taken interest in Turkish plastic pipe manufacturing industry and is likely to award a tender to the manufacturing firm for replacing the old sewerage and water supply pipelines with Turkish ones in the metropolis, he said. In addition, to marble and plastic in steel sector Itehad Steel has signed an agreement with EMAAR a Dubai based construction company to provide steel bars for its construction projects in Pakistan, he said.

Read Also

• Pakistan viable for Turkish construction industry
• Turkey and Pakistan to Accelerate the Development of Economic Relations
• Energy Partnership from Leading Firms to Supply Turkish Need
• Turkish company eyes to set up pipe making plant in Karachi
• “Turkish Export Products Fair” Opens Its Doors on 16-19th of June 2010 in Jakarta, Indonesia
• Indonesia Eyes US$25b of Investment in Energy and Mining
• Malaysia-Pakistan Invest Nearly US$200Million on Pakistan Construction Project
• Pakistan, Turkish Company Sign Agreement for Wind Energy
• Pakistan, Malaysia to sign FTA within 2 months
• Indonesian Private and State Sectors to Gear Up on Biodiesel and Palm Oil