Chinese company Globallink Glass Technology and Equipment inked an agreement with Pakistan’s Balochistan Glass Limited on Thursday. It is a joint venture which was signed at the Punjab Board of Investment and Trade (PBIT) headquarters.
The agreement would lead to more than 500 employment opportunities for engineers, technologists and pharmaceutical personnel. They will be working closely in collaboration with their Chinese counterparts on job. Moreover, plenty of indirect jobs will also be created.
Chief Executive Officer (CEO) of PBIT, Amena Cheema welcomed the representatives of both companies. She stated that collaboration like these between two countries is a positive sign. Furthermore she also acknowledged the strong ties between China and Pakistan and such agreements will bond well in the future.
What does the agreement state?
There shall be plenty of developments under the agreement. A manufacturing facility near Lahore will be established to sell high quality USP Type-1 neutral glass tubing. It is a brand new technology that has tremendous resistance and great mechanical strength. This will be possible by using advanced and state-of-the-art equipment and technology.
Another manufacturing facility ‘Paidar Hong Glass’ is set to be formed. It will produce high quality Borosilicate USP Type-1 amber and clear glass tubing using the Danner process. All these formations will be under the strict supervision of highly qualified Chinese glass technologists and engineers.
Additionally, two furnaces will also be fixed with 24 tons per day capacity each. It will come along with glass tubing, glass vials and glass ampoule manufacturing machines.
All these products come into the use of pharmaceutical for research and medical purposes. The company is being formed with a total capital of approximately $9 million.
One of the spokesperson of PBIT stated that the board was in constant touch with Chinese and Balochistan Glass Limited. He asserted that the board played a vital role in enabling the agreement between two companies.
CEO of Globallink Glass Technology, Ju Xin Hong while speaking on the occasion expressed his amusement at the agreement. He praised PBIT’s commitment and made sure that ventures like these will help in developing strong ties between two countries.
Commercial operations are expected to begin by 30th June 2017.
Source: brecorder.com. image via Nation.
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