Special Assistant to Chief Minister Khyber Pakhtunkhwa on industry, commerce and labour, Abdul Karim Khan has said the over $130 million of investment would be made in the Rashakai Special Economic Zone in the first phase.
The first of the nine identified SEZs under China Pakistan Economic Corridor (CPEC), Rashakai SEZ is likely to be inaugurated by next month.
“In this economic zone, 9 percent investment would be made by the KP government while the remaining 91 percent investment will be from foreign sources-mainly Chinese side”, he said while talking to APP.
He hoped that China will soon extend approval for the Rashakai Economic Zone which would pave the way for investment of US$128 million in the zone.
Talking to APP he said the Rashakai industrial zone would prove as the geographical center of the province and it wold also integrate the whole region.
He said with the promotion of industrialization in the zone, thousands of new employment opportunities would be created for local people which would help reducing the poverty rate in the area, besides bringing prosperity and development in the country.
Abdul Karim said the implementation on the agreed incentives between Pakistan and China under the country’s industrial policy would be fully ensured.
Rashakai Economic Zone is a flagship project of Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), which spans over a 1000 acre land.
The location is connected both through air and land routes via airport in 50 kilometer, dry port in 65 KM, railway station in 25 KM, highway in 5 KM and the city center in 15 KM. Moreover, it is strategically, located on the M1 Motorway at the bridge between CPEC and Burhan interchange.