A Chinese apparel firm is investing a grand total of $150 million in an industrial park on Lahore’s boundary with Kasur. The park will include best in class texture units, coloring offices and piece of clothing fabricating units for trading athletic apparel from Pakistan to the Americas, Europe, Asia-Pacific and different locales of the world.
The venture by the Shanghai-based Challenge is apparently the main unfamiliar direct speculation (FDI) in a fare industry in Pakistan. The firm is as of now working as Challenge Apparel since 2017 with its piece of clothing producing unit on Multan Road close to Lahore bringing almost $44 million in fare income during the last monetary year, as indicated by its overseeing chief Chen Yan, who is known in the public authority and business circles as Karen.
Yan expects exports from her existing facility to grow to $54 million this fiscal year. Once the Challenge Fashion Industrial Park becomes functional from July next year, its sportswear exports from Pakistan are projected to grow to $120 million in the first year and to $400 million over the next few years.
The largest Pakistani textile exporting company’s exports stood at less than $300 million last year.