Islamabad: Century Steel, a Chinese firm, has planned to invest $360 million in Pakistan, for which the government has allocated 20 acres of land in the Rashakai Special Economic Zone.

According to statistics, the government began selling plots in the Rashakai SEZ in January and has since granted 585 acres of property to 24 zone businesses with a projected investment of Rs. 136.7 billion, including FDI of $5.21 million in Faisalabad’s Allama Iqbal Industrial City.

Read More: Updates on development status of SEZs planned under CPEC shared by chairman Bajwa

According to documents, four of the nine CPEC SEZs are in advanced stages of development. Rashakai SEZ, Allama Iqbal Industrial City, Faisalabad Bostan SEZ, and Dhabeji SEZ are among them. The government has also authorised PC-ls worth more than Rs. 16 billion for gas and electricity suppliers in the above-mentioned SEZs that are nearing completion.

According to the information, 10 MW of power was given to Rashakai SEZ as a short-term agreement in October 2020, and 50 MW is expected to be provided by June 2022, with the zone’s gasification expected to be finished by December 2021.

Read More: Government accelerates assistance to Chinese investors to put SEZs on fast track

Rashakai SEZ, Allama Iqbal Industrial City, Faisalabad Bostan SEZ, Dhabeji SEZ, Model ICT SEZ, Pak Steel Mills SEZ, Karachi Moqpandas SEZ, GB Mirpur SEZ, and AJK and Mohmand Marble City are among the nine SEZs designated by the government for industrial development cooperation.

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