Pakistan Economic and Industrial Zones update

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CM inaugurates Phase I of Rashakai economic zone​

APP
July 22, 2023

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mohammad Azam Khan on Friday inaugurated Phase I of the Rashakai Special Economic Zone marking a significant milestone in the development of the China-Pakistan Economic Corridor.

The ceremony was attended by the secretary of the Federal Board of Investment, provincial chief secretary, CRBC general manager, CEO of the KPEZDMC and other dignitaries.

The zone strategically located at the nexus of economic growth stands as a testament to the strong partnership between Pakistan and China, according to officials.

They said the CPEC had become a symbol of friendship between the countries and a model for cooperation between developing countries.

The chief minister appreciated the “exceptional efforts and unwavering commitment of China Road and Bridge Corporation and Khyber Pakhtunkhwa Economic Zones Development and Management Company for successfully completing Phase I of the project six months before the deadline.”

He thanked the Chinese government, companies and public sector entities for their “unflinching support to the project as well as all those who contributed to the completion of Phase I of the Rashakai SEZ.”

The officials said the project’s Phase I encompassed 247 acres of modern facilities designed to attract domestic and foreign investors promising to spur economic growth and job creation and thus, strengthening Sino-Pak cooperation and relations under the umbrella of the CPEC.

They said Phase I housed 18 zone enterprises with seven being under construction mobilising an estimated investment of Rs85 billion.

The officials said as the Rashakai SEZ would become a catalyst for regional prosperity, employment creation for the local population, and foreign direct investment, plans were in the works for the project’s second phase.

They said authorities were committed to “expanding infrastructure, streamlining business processes, attracting key industries and unlocking the SEZ’s full potential as part of the ongoing CPEC decade.”

 

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Chemical Factory in Gwadar Free Zone North under plan​

By Yasir Habib Khan
Oct 12, 2023

In a new development, a chemical factory is going to be established in Gwadar Free Zone North (Phase II).

According to Gwadar Port Authority (GPA) official, an Islamabad based firm named Acrez Mark Private Limited plans to establish a chemical factory in Gwadar Free Zone. “The firm has expressed its plan to construct a Phthalic Anhydride production plant in Gwadar Free Zone. The Industry would stretch to 218 acres,” GPA official told Gwadar Pro.

“The total project cost is a whopping $83 million. With a total production capacity of 40,000 tons per year. Acrez plans to export 4300 containers abroad,” he added.

To materialise the project, he said, the company requires 3 megawatts electricity. Future expansion plans include the production of plasticisers.

 

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Solar Manufacturing Enterprise to invest Rs. 470.78 Million in Rashakai pSEZ​

By Tahir Ali | Gwadar Pro
Apr 17, 2024

PESHAWAR, Apr. 17 (Gwadar Pro) - Steller, a Pakistani solar manufacturing enterprise is set to invest Rs. 470.78 million in the Rashakai prioritized Special Economic Zone (pSEZ), a flagship project of the China-Pakistan Economic Corridor (CPEC).

The company was approved during the 8th SE Committee meeting of Rashakai pSEZ held on Tuesday.

The committee comprised representatives from the Board of Investment Pakistan (BOI), Rashakai Special Economic Zone Development and Operations Company (RSEZDOC), Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), Khyber Pakhtunkhwa Special Economic Zone Authority (KP-SEZA), Deputy Commissioner Nowshera, and Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT).

“After completion of formalities, the enterprise will be issued a formal letter of approval, entitling it to the fiscal benefits of SEZs,” according to an official statement from BOI.

According to BOI, in line with the government’s present-day vision to promote clean and sustainable energy solutions, BOI actively encourages and facilitates investments in the solar panel manufacturing sector. This strategic focus not only contributes to environmental sustainability but also enhances long-term revenue generation for the government.

BOI, as the secretariat of the SEZs, will provide all-out facilitation to enable the new enterprise to commence its construction activities within 6 months and commence production within 24 months of their approval.

Rashakai pSEZ, located in Nowshera KP, is spread over an area of approximately 1,000 acres of land. The zone holds the potential of US$ 4 billion in investments. Upon its completion, Rashakai pSEZ is expected to provide 200,000 direct and indirect employment opportunities for locals.