CPEC Authority chairman Lieutenant General (retd) Asim Saleem Bajwa visited Rashakai Special Economic Zone (SEZ) along with Chinese Ambassador Nong Rong.
Bajwa in a tweet said, “SEZ progressing well, provision of amenities, including power, gas, access road, and security wall as per envisaged timelines”.
Visit to Rashakai SEZ alongwith Chinese Ambassador HE Nong Rong. KP Govt well represented. SEZ progressing well,provision of amenities,including power,gas,access road,security wall as per envisaged timelines.1st Chinese industry laid its foundations #cpecmakingprogress pic.twitter.com/9LXhINb7lF
— Asim Saleem Bajwa (@AsimSBajwa) April 19, 2021
He added that first Chinese industry foundations been laid in the Rashakai economic zone.
The SEZ Committee of Rashakai Special Economic Zone allocated 40 acres of land to Century Steel Ltd owned by Fuzhou Julitaihe Inter¬national Company of China with a planned investment of $50 million earlier this year.
The Rashakai SEZ comes under the multi-billion dollar CPEC project and is the first industrial cooperation project between China and Pakistan.
The SEZ will create 200,000 direct and indirect employment opportunities and is expected to attract Rs347 billions of investment.
The project by the Chinese iron industry is expected to produce 0.25 million tonnes of steel products per annum while it will help creating around 1,000 direct and indirect jobs.
In January, the Board of Investment (BoI) said 10MW of electricity had already been arranged through 11kV feeder at the Rashakai zone, while work was underway for the 160MW, 132 kV grid station.
The Rashkai SEZ is known as game-changer for the Khyber Pakhtunkhwa due to its proximity to the Torkham border and Central Asia.