KARACHI: Deals worth $150 million with China were signed, while a Saudi PVC producer announced plans to open a facility in Pakistan during the 15th Build Asia exhibition in Karachi on Dec. 14-16.
The exhibition showcased products from 17 countries in the sectors of heavy machinery, steel, cement, PVC, timber, tiles, glass, hardware and tools, elevators, prefabricated buildings, marble cutting machinery, marble products, and other allied construction and building materials.
Organizers of the international building materials and construction machinery show said contracts and memoranda of understanding (MoU) worth $150 million were signed during the exhibition. “The MoUs were signed between Pakistani and Chinese companies, who want to set up or relocate industrial units in Pakistan to further export construction material to the Middle East and other countries,” Khursheed Nizam, president of Ecommerce Gateway, told Arab News on Monday.
Saudi Arabia was visible with PVC pipe producers such as Dammam-based FABCO Plastic Factory belonging to the Salem Balhamer group, which announced plans to set up a manufacturing facility in Pakistan to benefit from its market size and growing demand, Waleed Kadry Ahmed, marketing manager of Salem Balhamer Holding, told Arab News.
“We have come to Pakistan to showcase our products and find distributors. In the future, we plan to open a factory here. At present, we are looking for distributors. The city (of Karachi) is good and we found it good for business,” he said.
Another Saudi producer also highlighted Pakistan’s demand for PVC pipes. “There is a huge demand for this product. For each road, building and any other construction they need pipes ... It is like a daily need,” Khaled Ghazi, export manager at Riyadh-based Almunif Pipes, told Arab News.
“We know many companies in Pakistan are also manufacturing these products, but we think as a supplier of raw material to industries our prices are very competitive and our quality superior to our competitors,” he said, adding that the company, which exports its products to 21 countries, is looking for agents and distributors in Pakistan.
The exhibition was attended by more than 150 companies, mostly from China. “Three hundred Chinese delegates attended the exhibition and conference, and double booked the space for next year’s event. The event has further strengthened the objectives of China-Pakistan Economic Corridor CPEC,” Nizam said.
China was the country partner of this year’s Build Asia.