BEIJING, Jan. 17 (ABC); A project to recycle aluminum recently began a trial run in Pakistan and Chongqing, southwest China, China Economic Net (CEN) reported on Wednesday.
The project was initiated by the aluminum working committee of Trade and Economic Multifunctional Platform for SCO countries (SCO TEMP).
The committee’s member units have established an entity in Chongqing Lianglu-Guoyuan Port Comprehensive Bonded Zone (CBZ) and have also set up an overseas industrial park in Pakistan.
With an investment of approximately RMB 5.5 billion, the industrial park in Pakistan will be equipped with an advanced manufacturing system. Raw materials purchased from the global market will be processed in the park.
According to Hu Kaiqiang, Director General of SCO TEMP, this will create job opportunities, generate tax revenue, and enhance international trade for Pakistan in the future.
In addition, the processed materials will be sold in the international market or exportedto Chongqing CBZ.
The Chongqing entity will utilize its local manufacturing expertise to process the imported materials into high-value-added products and distribute them in the global market, Hu added.
The initiative benefits from China-Pakistan Economic Corridor, as well as Pakistan’s industrial base, preferential policies, port and logistics services, and relatively low costs, according to Hu.