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.