An industrial park is being developed and under the supervision of the Chinese Apparel Firm. The project is planned on Lahore’s border with Kasur. The Chinese Apparel have planned to invest a total of 0 MN on this industrial park project.
The park will feature state-of-the-art fabric units, dyeing facilities and garment manufacturing units for exporting sportswear from Pakistan to the Americas, Europe, Asia-Pacific and other regions of the world.
In Pakistan’s export industry, the project by the Shanghai based challenge is supposedly the first foreign direct investment (FDI) in Pakistan.
The firm has a garment manufacturing unit set on Multan road near Lahore since 2017 and are working under the name as Challenge Apparel. Through their firm alone, they are generating $44 MN in export revenue in the last fiscal year according to its Managing Director Chen Yan, who is known in the government and business circles as Karen.
Chen Yan has speculated that the revenue for the present fiscal year will grow up to MN from the garment manufacturing center.
The Challenge Fashion Industrial Park is expected to become serviceable from July next year. Its sportswear exports from Pakistan are projected to grow to 0 mn in the first year and to 0 mn over the next few years.
The largest Pakistani textile exporting company’s exports stood at less than $300 mn last year.
“We’re bringing modern, most-efficient and environment-friendly technology to Pakistan from across the world besides introducing new ways of management at our new flagship industrial park. Our plan is to make Pakistan the hub for our polyester-based sportswear exports,” Yan explained while talking about the industrial park.
Challenge first set foot in Pakistan’s market in 2014 by joining Masood Textiles venture, a major exporter from Faisalabad by investing $47 MN. However, the arrangement did not work between the two parties as the company bled money profusely and the Chinese investor relocated to Lahore as an independent company.
