World news story
British firm to invest $400M on a state of the art cement plant for KPK
British firm Asian Precious Minerals (APML) has announced an investment of $400m to build a new cement plant in Khyber Pakhtunkhwa (KPK) at a joint meeting held between APML and the Chief Minister of KPK, Mr. Pervez Khattak.
The meeting was attended by the Chief Minister of KPK and Mr. Nadim Khan, CEO of APML; Mr. Peter Frost, Executive Director of APML; Mr. Irshad Ali Khokhar, Country Manager of APML; and Mr. Jason Mumtaz from the British High Commission. Both parties discussed the potential of bilateral trade between the UK and the province of KPK.
The Chief Minister explained his new industrial policy pursuant to which the KPK government has announced several incentives for local and foreign investors who can benefit from a transparent one window operation to set up an industrial concern within the province without the need for an NOC. The Chief Minister offered his support and commitment to ensuring that APML’s cement project will be a success.
Mr. Nadim Khan, Chief Executive Officer of APML, said:
We are delighted to be investing in a new cement plant in KPK. We are able to do this because of the improved law and order situation, the pro-business stance and good governance policy displayed by the provincial Government of KPK under the stewardship of the Chief Minister. We look forward to constructing a model, state of the art and environmentally friendly cement plant.
Mr. Pervez Khattak, the Chief Minister of KPK, said:
This project by APML is an important symbol of the greatly improved business environment in KPK. This British investment will help create local jobs and stimulate the local economy. I am glad to see that the UK recognises the dramatic improvements in KPK and I look forward to welcoming more British companies to the Province.
Belinda Lewis, British Trade Director for Pakistan said:
We are delighted to have been able to support this significant interest in KP by a British company. APML has recognised the improved security and investment climate in KP and Pakistan more generally, and recognised the clear potential for future growth in Pakistan.
I hope other UK companies will follow the example of APML and also regard Pakistan as a significant investment opportunity.
British High Commission
Tel. 051 201 2000