Korea to invest 10 to 15 million USD in Punjab
Korean company will invest 10 to 15 million USD in Punjab. The Korean based company Techen LED Co. ltd, will set up manufacturing unit of Light Emitting Diode (LED) lights in Special Economic Zone in Punjab.
Representatives of Korean company called upon CEO PBIT Haroon Shaukat and told that they need 5 acres of land in special economic zone to set up their production unit in Punjab. CEO, PBIT told Korean representatives that Punjab Board of Investment and Trade will coordinate with industrial parks to allocate them best land in special economic zone.
Korean company have already signed a MOU with Lahore based company, The Hybrid Technics Pvt. Ltd (manufacturers of electronics and electrical equipment). Pakistani and Korean companies have started the process of negotiations to establish a joint venture and start local manufacturing and assembly of LED products.
Korean company told that they produce different types of LED products like LED Area light, LED tunnel light, LED floodlighting and parking lot lights, etc.