Islamabad: Pakistan and China on Friday signed a memorandum of understanding for cooperation in energy, mass transit, industrial cities and road projects. The MoU was signed by officials of Pakistan's Water and Power Ministry and China's Norinco International in the presence of Prime Minister Nawaz Sharif.
A Chinese delegation headed by Norinco's vice president Wang Yitong is currently visiting Pakistan. According to the MoU, Norinco and the Pakistan government will cooperation in the mass transit projects and energy projects, specifically solar power projects. The Chinese company will also help Pakistan in setting up industrial cities along motorways and road projects.
Norinco will facilitate financial assistance from the Chinese government on a fast track basis. Under the terms of the MoU, Pakistan would use Norinco's financial, technical and managerial expertise in the identified fields and other sectors that may be chosen later. The MoU will come into force at once and remain valid till such time as agreed to by the two sides.
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