Islamabad : This is a momentous day for industrialization of KP as first Zone Enterprise from China has been admitted to the Rashakai SEZ.

Islamabad, Jan 15, 2021: In a meeting held here on Thursday, the SEZ Committee of Rashakai Special Economic Zone, allocated 40 acres of land to Century Steel (Pvt) Ltd. The enterprise is owned by M/S Fuzhou Julitaihe International Company; a Chinese conglomerate engaged in manufacturing and sale of Iron and Steel products internationally. Fuzhou Julitaihe International Company owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia with net capacity of 3000 mn tons of iron and steel products.

Century Steel Pvt Ltd. plans to invest USD 50 mn and will produce 0.25 mn tons of steel products in their plant in Rashakai SEZ. The project will consume 45 MW electricity and employ 1000 manpower directly and indirectly. Resources from China have been mobilized and Chinese engineers and personnel are setting up a site office to execute the project without delay.

This is a momentous day for industrialization of KP as first Zone Enterprise from China has been admitted to the Rashakai SEZ. Lot of applications have been received for plots and many industries will be starting construction shortly at the Zone.

Rashakai SEZ comes under CPEC umbrella and is the first Industrial Cooperation Project between China and Pakistan. The 1000 acres SEZ will create 200,000 direct and indirect jobs and attract PKR 347 bn of investment. 10 MW of electricity at the Zone has been arranged through 11 kv feeder. Work is in progress on the 160 MW, 132 KV grid station. Due to its excellent location on Motorway and proximity to Torkham Border and Central Asia, the Zone is expected to be the game changer for Khyber Pakhtunkhwa and Pakistan.