Multan Industrial Estate, Phase-II, will be completed by December 2012, the 667-acre of land project started in 2011. This was stated by the Chairman, Punjab Industrial Estates (PIE), S M Tanveer. He said that the industrial community has taken keen interest in investing in this estate. The projects will boost the economy of the area and provide jobs to 65,000 persons.
He said that improvement in investment climate in Punjab has resulted the multinational companies invest in Punjab Industrial Estates in Multan and Lahore. He said that top ten ranked multinational companies were already working in Sundar Industrial Estate and now a US based multinational company will be invest at Multan Industrial Estate.
He disclosed that a US based multinational soft drinks company has chalked out a plan to invest Rs 8 billion in its proposed plant at Multan Industrial Estate Phase II. The said industrial company has bought 34 acres of land in which it would set-up seven line production facilities to provide all their products under one roof. The PIE Chairman said when the provincial government handed over this old project to Punjab Industrial Estates Development and Management Company in order to revive industrial activity, it was not functioning properly.
The main problem in colonisation of Phase-I was poor quality of infrastructure, road network & sewerage system was virtually absent and over a period of time Multan Industrial Estates (MIE) was flooded with obnoxious effluents resulting into health & environment crises.
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