ISLAMABAD: A delegation of China’s Shandong Xinxu Group met Prime Minister Shehbaz Sharif on Wednesday. The company expressed interest in building a maritime industrial complex and a green shipbreaking yard in Pakistan, the PM Office said.
Shandong Xinxu Group Co., Ltd. is a high-tech energy firm. It works in renewable energy, battery equipment, nuclear power, wastewater treatment, and smart energy storage. Its products go to more than 40 countries, including Pakistan, India, Tunisia, and Belarus.
Pakistan’s shipbreaking industry has declined in recent years. The sector faces pressure from global calls to end beach scrapping due to safety risks and sea pollution.
Sharif met the delegation led by Chairman Hou Jianxin in Islamabad. He invited Chinese industries to invest in Pakistan. He assured them full government support in Special Economic Zones.
“Shandong is interested in establishing a maritime industrial complex in Pakistan,” the statement said. “The company will build a green shipbreaking yard.”
Officials briefed both sides on Pakistan’s shipbreaking and recycling potential.
Gadani, in Balochistan, once ranked among the world’s busiest shipbreaking sites. Old vessels were dismantled there, and their steel parts recycled, reused, or sold.
In June, Pakistan approved Rs12 billion ($42 million) to turn Gadani into a “model green facility.” The plan aims to curb pollution and manage hazardous waste, the maritime ministry said.
The Chinese company also showed interest in fishing, fish processing, and date processing.
Pakistan has been seeking foreign investment since narrowly avoiding default in 2023. An IMF loan helped it escape the crisis.
China remains Pakistan’s key economic and strategic partner. Since 2013, Beijing has invested billions in Pakistan through the China-Pakistan Economic Corridor, part of its Belt and Road Initiative.
