PBIT signed a four party Cooperation Framework with China Railway 20 Co. Pakistan Ltd (SOE of China), M/s. Shanghai Yuanyi Industries Company Ltd, M/s. Pakistan China Investment Company for establishing a special economic zone in Lahore division which is planned to be developed on 400 acres piece of land and shall accommodate enterprises working in the textile and allied light industries sector. At this occasion the participants agreed to play a part according to their respective mandates for establishment of this state of the art cluster for textile and allied value chain near Lahore city which is expected to bring a strong interest from the Chinese textile manufacturing industry which is looking for new destinations for re-location and finding new markets. The project is planned to accommodate foreign enterprises, especially from China, which is expected to bring FDI of 100 to 500mn USD once completed.