Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) has signed a concessional agreement with China Road and Bridge Corporation (CRBC) for development of Rashakai Special Economic Zone (SEZ). According to statement issued here on Saturday, Chief Executive Officer KPEZDMC Saeed Ahmad signed the agreement in China with Chairman, CRBC Lu Shan in presence of PM Imran Khan and Chinese PM Li Keiqiang. It added that the ground breaking of RSEZ expected soon, to be attended by Prime Minister Pakistan and high level Chinese delegation. The multibillion investment and generation of 200,000 Direct & Indirect Job Opportunities is expected.
According the statement, in pursuance of the MoUs signed in KP-China Roadshow (April 2017), the Government of Khyber Pakhtunkhwa after deliberations signed the concessional agreement with the China Road and Bridge Corporation (CRBC) to develop Rashakai Special Economic Zone (1000 acres) during PM Imran Khan visit to China at the invitation of Chinese President Xi Jinping to attended Second Belt and Road Forum and opening ceremony of the Beijing International Horticulture Exhibition 2019.
Rashakai SEZ is the key milestone and the first project for implementation of industrial cooperation under CPEC. CRBC in JV with KPEZDMC plans to develop 1000 acres of land as Special Economic Zone at Rashakai. CRBC will market the Zone to local and foreign investors. Rashakai Special Economic Zone will have industries like Pharmaceutical, Textile, Food & Beverages, Steel and various engineering related industries.
This initiative by the Government of KP will provide direct & indirect job opportunities to 200,000 locals of the region once the SEZ is fully colonized. Investment of multibillion is expected by industrialists from Pakistan and abroad. Online applications for RSEZ are open and applications of hundreds of acres have already been received, the statement said. It added that a formal groundbreaking ceremony will be held soon which will be attended by PM Imran Khan. CEO KPEZDMC, Saeed Ahmed signed the concessional agreement with Chairman, CRBC Lu Shan in China.
The statement further informed that the signing ceremony was attended by PM Imran Khan and Chinese PM Li Keiqiang apart from high level delegation from Pakistan and China. CEO KPEZDMC, Saeed Ahmed said 'this is a major achievement by KPEZDMC and a game changer for the people of the region. The project will bring prosperity not only to KP but also will be a major hub for tax revenue collection and exports contributing to national economy.
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