LAHORE - A prominent Chinese company Shandong Ruyi Group Thursday signed a memorandum of understanding with Punjab government to invest $two billion in Quaid-e-Azam Apparel Park. Chief Minister Muhammad Shahbaz Sharif was the chief guest of the signing ceremony held at the Chief Minister Secretariat.Under the agreement, Shandong Ruyi Group will not invest the said amount in the Park but also cooperate in its designing, planning and construction work. Punjab government will provide all out facilities to the Chinese group on priority basis. Chinese group and Punjab Industrial Estates Development and Management Company (PIEDMC) will jointly work on the project. Besides senior officials of Shandong Ruyi Group and Huaneng Shandong, provincial ministers and concerned authorities were also present on the occasion. Chairman PIEDMC S.M Tanvir and Executive President Shandong Ruyi Group Ms. Arie Qiu signed the document. Earlier, a delegation of Shandong Ruyi Group and Huaneng Shandong led by Luan Shun met the Chief Minister. Executive President Shandong Ruyi Group Ms. Arie Qiu, Li Aiying, Chief Executive Officer Masood Textile Shahid Nazir, members of the delegation, provincial ministers Mujtaba Shujaur Rehman, Muhammad Shafique, Sher Ali Khan, Advisor Ijaz Nabi, Additional Chief Secretary Energy and concerned officers were also present.The Chinese group also showed keen interest in investment in energy sector and expressed desire to set up two coal power plants of 660MW in Sahiwal and two similar plants of 135MW in industrial estates besides considering establishment of coal power plants near coal mines in Salt Range.Talking to the delegation, the Chief Minister expressed gratitude to Ruyi Group for taking interest in investment in energy and textile sectors. He said that Chinese companies are extending cooperation to Pakistan also in projects of generation of electricity from solar and other sources. He said that Pak-China friendship is touching new heights in the current tenure of Muslim League-N.Referring to iron ore reserves in Rajua, Shahbaz Sharif said that a historic agreement has been signed with a Chinese company MCC for exploration of iron ore deposits in Chiniot. He said that Punjab government wants to modernize mining sector and operate it in an organized manner for generating job opportunities. He said that cooperation of Chinese group in mining sector would be welcomed. The leader of Shandong Ruyi Group Luan Shun said that Chief Minister Shahbaz Sharif has executed glorious projects in Punjab and he is deeply impressed with his style of work. He said that there are opportunities of setting up coal power plants near coal mines in Punjab. Meanwhile, while talking to delegation Metallurgical Corporation of China, Muhammad Shahbaz Sharif said iron ore and reserves of other minerals amounting to billions of dollars in value exist in Ranju, Chiniot where the government would set up a steel mill on discovery of this natural resource of high significance. The Chief Minster said that government has adopted a solid strategy for exploration and utilization of mineral resources and full benefit will be taken of coal, iron ore and other mineral resources in the province. He said a historic agreement has been signed with a Chinese company for the exploration of iron ore.The Chief Minister said that the delay committed in the past about exploration of the ore can be made up through execution of public welfare projects as early as possible. He said that destiny of the whole area would be changed if high quality iron ore deposits were discovered from Chiniot. Director General MCC Xu Yongjie said that his company has vast experience in exploration of iron ore and the agreement signed with Punjab government for exploration of iron ore at Rajua would be speedily implemented. Meanwhile, Chief Minister Muhammad Shahbaz Sharif, while presiding over a meeting on nutrition, promotion of dairy products and potable water projects here, said Pakistan can earn huge foreign exchange through livestock and dairy development. He said that an effective strategy is being evolved for the promotion of livestock and development of dairy sector. He said that a substantial increase can be made in the export of milk products through improvement in the processing system.He said that Turkey has made unparalleled progress in dairy development during the last one decade and Punjab government would consider Turkish model for promotion of dairy sector. He said that Punjab government has evolved a big project for providing clean drinking water to the citizens and a sum of Rs. 12 billion has been allocated for Saaf Pani Project this year. Shahbaz Sharif said that water resources can be saved through better water management. He said that cooperation of Nestle would be appreciated regarding Saaf Pani Project. Various proposals were also considered regarding nutrition, promotion of dairy products and clean drinking water projects on the occasion. Provincial Minister for Finance Mujtaba Shuja-ur-Rehman, Minister for Housing Tanvir Aslam Malik, Minister for Agriculture Dr. Farrukh Javed, Minister for Food Bilal Yasin, MNA Hamza Shahbaz Sharif, concerned parliamentary secretarie and officers, Managing Director Nestle Pakistan Magdi Batato and senior authorities attended the meeting.