Ground-breaking of Rashakai/KP SEZ next month

[Kabira]

ISLAMABAD - Rashakai Special Economic Zone is ready for execution and the ground breaking of the project is likely to take place next month.

All the codal formalities for the construction of Special Economic Zone (SEZ) at Rashakai have been completed and the ground breaking of the project is likely to take place next month, official source told The Nation. The SEZs are on the agenda of the PM Imran Khan’s upcoming visit to China.

Out of all the SEZs, agreed between China and Pakistan under CPEC, the Rashakai SEZ, located in district Nowshera, KP, is ready for execution. The feasibility of the SEZ has already been completed and work on the land acquisition is in progress. Out of 2600 acres of land, so far 2,000 acres of land have been acquired, said the source. Phase one of the project will be developed on an area of 1,000 acres while phase two is based on 1600 acres.

Meanwhile, a press releases issued here stated that a meeting to review the progress on SEZ was held here between the officials of the Chinese company and the officials of the federal planning ministry.

The area of Special Economic Zones remained ignored in the past and none of the zones were taken off, the federal minister for planning said while talking to a delegation headed by Dong Futang, Chief Financial Officer, China Road and Bridge Corporation (CRBC). Dong Futang called on Makhdum Khusro Bakhtyar, Minister for Planning, Development & Reforms (PD&R). It is pertinent to mention here that earlier this year the Government of Khyber Pakhtunkhwa had signed an engagement agreement with China Road and Bridge Corporation (CRBC) for development of Rashakai Special Economic Zone.

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Dong Futang said that all out efforts and experiences would be applied to develop Rashakai SEZ at par with Chinese developed zones. He further added that locals will be preferred for employment in development and operation stages. Pakistan’s natural resource potential would be fully utilized to make this project win-win for all.

Makhdum Khusro Bakhtyar appreciated the role of CRBC in the implementation of Karakorum Highway and other infrastructure projects. He underlined that the Chinese firm would continue its efforts to ensure efficient execution of Special Economic Zone.

China Road and Bridge Corporation, a Chinese state-owned company has already signed a memorandum of understating and an engagement agreement with Khyber Pakhtunkhwa Government to jointly develop Rashakai Special Economic Zone.

While highlighting the focus of the present government, Minister PD&R said, “It is our top priority to jump-start SEZs and Rashakai will be the first one.” He added that the area remained ignored in the past and none of the zones were taken off.

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Makhdum Khusro Bakhtyar further stressed on a clear timeline and business model for the development of SEZ at Rashakai as a first zone which would be followed by others. He emphasized that the developer should focus on the relocation of Chinese heavy industry and investment from local as well as foreign enterprises to ensure value addition of the products and import substitution.

Secretary Planning Zafar Hasan also emphasized on developing a state-of-the-art infrastructure in order to facilitate relocation of Chinese companies and ensure a level playing field for local as well as foreign investors.

Secretary Planning Zafar Hasan, Member Infrastructure & Connectivity, Malik Ahmad Khan, Project Director CPEC, Hassan Daud and other officials were also present on the occasion.
https://nation.com.pk/24-Oct-2018/ground-breaking-of-rashakai-sez-next-month

 

[ghazi52]

RCCI ink MoU with CRBC
November 1, 2018

RAWALPINDI: The China Road and Bridge Corporation (CRBC) on Wednesday inked a memorandum of understanding with the Rawalpindi Chamber of Commerce of Industry (RCCI) for exploring the investment opportunities existing in Rashakai Especial Industrial Zones being developed under China-Pakistan Economic Corridor (CPEC) project.

Deputy General Manager CRBC Lin Jun and President RCCI Malik Shahid Saleem signed and exchange the documents at a ceremony held at a local hotel in Islamabad. Chinese Ambassador Yao Jing, Advisor to Prime Minister on Textile, Commerce, Industry and Production and Investment, Abdul Razak Dawood, President FPCCI Ghazanfar Bilour, Senior Vice President Muhammad Badar Haroon, former presidents Sohail Altaf, Zahid latif Khan, Asad Mashadi and Chairman of all Pakistan Chinese Enterprise’s’ Association were also present on the occasion.

Under the agreement, RCCI and CRBC will work together in promoting Rashakai SEZ among its members, strengthening the information through exchange of delegations and using RCCI platform in expansion of business in Rashakai SEZ by holding joint exhibitions, seminars and symposiums.

RCCI President Malik Shahid Saleem termed the MOU a great success and said Pakistan’s economy offered great potential to Chinese investors for joint ventures and investments. He said CPEC would be mutually beneficial for Pakistan and China and would ensure level playing field for the businessmen and investors of both countries.

SEZ will help Pakistan to improve its GDP, poverty alleviation and unemployment, he added. RCCI Chief urged both Pakistani and Chinese governments to work hard in completing all projects within stipulated time frame.

It is noted that CRBC a subsidiary of Fortune Global 500 company China Communications Construction Company (CCCC), focuses on global civil engineering and construction of transportation infrastructure, including highways, railways, bridges, tunnels, marine ports, airports and tunnels.