China to invest in Pakistan’s coal sector

Date:2011-10-28zhuling  Text Size:

ISLAMABAD - Chinese company Shaanxi Dingbian Lide Oil well technology Service Limited has shown keen interest and intends to invest in infrastructure, mining, gems & stones, gas exploration and cementing. Chairman, Sino Resources Group Limited, Shaanxi Dingbian Lide Oil well technology Service Limited and China Cultural Heritage Foundation, Jane Geng, said in a meeting with executive director general of Board of Investment (BOI) Zia Uddin on Thursday. Sino Resources Group Limited representatives during their visit to BOI showed interest in coal processing of removing moisture to turn it into high version coal which is highly efficient in upgrading the commercial value of lignite.
The company also gave a detailed presentation of the most advanced coiled tubing, drilling and nitrogen stimulation technologies. The Executive Director General, BOI Zia Uddin appreciated the efforts being made by the company for their investment plans and briefed that in order to attract investment in Thar, a comprehensive incentive package has been developed with consultation from all stake holders. The incentive package includes 20 per cent IRR to firms, 30 years exemption on corporate tax, all custom duties on import of coal mining projects allowed at zero per cent to reduce the initial capital investment, and exemption on withholding tax to shareholder etc; to reduce the initial capital investment.


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