Challenge Fashion from Shanghai China is ready to set foot in Punjab, Pakistan; creating 25,000 local jobs.
Established in 2001, one of China’s largest textile enterprises, Challenge, produces garments for world’s top sport brands including Niki, Rohan and H&M.
“With the investment of $150 million, the company will produce two to eight million garments in a month, utilising six million meters of fabric. Challenge Group will obtain raw materials for garment production from Pakistan,” reports say.
The company, stated the Punjab government handout, is expected to generate more than $100 million in annual exports.
Punjab government is establishing special zone for the manufacturing unit of the Challenge Fashion.
“We are establishing a state-of-the-art special economic zone on 100 acres in Punjab,” said an official. However, the government has yet decide in which city the unit will be established.
But, according to a report, Challenge Group’s project in Special Economic Zone in Kasur, is nearing completion.
MoU with Punjab Government:
The Bank of Punjab and Challenge Fashion Private Limited has signed the Memorandum of Understanding.
“Through Challenge Group, 18,000 people will acquire jobs in 8 months and 25,000 people in next 5 years,” said the Punjab government. Punjab Chief Minister Maryam Nawaz, Chinese Consul General Zhao Shiren and Chairman Challenge Group Wego Hong discussed the plan. They discussed matters pertaining to the promotion of textile industry and investment in Punjab.
Punjab chief minister Maryam has welcomed the MoU. She said the provincial government is taking keen interest in industrial development in Punjab.
Challenge Fashion:
Challenge Group is subsidiary of renowned Yuanyi Industry Group. The emerging textile leader in Pakistan has over 25 years of experience in China’s garment sector. Also known as Yuan Yi Group, Yuanyi Industry Group is operating in China, Taiwan some other countries. The Group works in different sector including including textile machinery parts and personal protective equipment.
