Chinese, KP venture in Rashakai SEZ to generate 0.2 million jobs

PESHAWAR: The concessional deal signed by the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) with the China Road and Bridge Corporation for development of the Rashakai Special Economic Zone (SEZ) would lead to the creation of around 200,000 jobs.

The agreement between the two companies was concluded in pursuance of the MoUs signed in KP-China Roadshow (April 2017), said a release of the KPEZDMC issued here on Friday.

The provincial government and the Chinese Corporation after deliberations signed the concessional agreement with the China Road and Bridge Corporation (CRBC) to develop Rashakai SEZ during prime Imran Khan’s visit to China to attend Second Belt and Road Forum and the 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.

The CRBC in a joint venture (JV) with KPEZDMC plans to develop a 1000 acres of land as SEZ at Rashakai. CRBC will market the Zone to local and foreign investors.

The release said that Rashakai SEZ will accommodate Pharmaceutical, Textile, Food & Beverages, Steel and various engineering related and other units.

This initiative by the provincial government will provide direct and indirect opportunities of jobs to 200,000 local people.

Investment of multibillion is expected from within the country and abroad and a formal groundbreaking ceremony would be held soon.

KP mineral dept auctions 46 blocks

The Mineral Department of Khyber Pakhtunkhwa has auctioned Rs190 million worth of 46 mineral blocks on the directive of Minister for Mineral Dr Amjad Ali here on Friday.

The second major round of auction was conducted under the supervision of Secretary Mineral Department Asmatullah Gandapur and Director General Mineral Department Muntazir Khan.

Besides officials of the finance and mineral department, officials of other relevant departments were also present on the occasion, said a press release.

In addition to foreign and local companies, hundreds of bidders took part in the auction which fetched about Rs190 million and was conducted on a merit basis and in a transparent manner, he informed.

“The credit goes to the officials of the entire mineral department, who successfully conducted the two rounds of the auction,” he added.

He said that owing to the dedication and hard work of the mineral department’s team, confidence of investors had enhanced and the sector would soon start contributing billions of rupees revenues to the province.

The minerals which were put on auction included limestone, granite, field super, dolomite black and marble.