MoU signed for setting up industrial estate at M-3

[Tiger Awan]

FAISALABAD: Faisalabad Industrial Estate Development and Management Company, in collaboration with the Export Processing Zone Authority (EPZA), is setting up an export processing zone at M-3 Motorway, comprising a first of its kind Halal industrial zone and a special area for female entrepreneurs.
This was announced by FIEDMC Chairman Khawaja Asim Khursheed while speaking at a gathering of diplomats, domestic and foreign investors following the signing of a memorandum of understanding (MoU) for establishing the zone with EPZA here on Wednesday.
First project of FIEDMC was the Value Addition City where 95% of the area has been occupied. “It is a total success,” Khursheed remarked.
FIEDMC has now launched its second project – the FIEDMC Export Processing Zone.
“It will have best and state-of-the-art infrastructure coupled with one-window operation, customs clearance and offshore banking facilities for exporters,” Khursheed said. Work on the project had already been initiated.
The Punjab government has sanctioned a 50-megawatt dedicated coal-fired power plant for the estate in order to ensure uninterrupted electricity supply to industrial units.
EPZA Chairman Saadat S Cheema said EPZA was until now focusing on the port city of Karachi, but now it has come up with a new slogan “Karachi and along with Karachi”. In this connection, new industrial zones have been planned in other parts of the country.
Development work on phase-I was likely to be completed in the middle of this year.
Published in The Express Tribune, February 28th, 2013.

MoU signed for setting up industrial estate at M-3 – The Express Tribune