*ISLAMABAD – Khyber Pakhtunkhwa Economic Zones Development and ManagementCompany (KPEZDMC) has signed the concessional agreement with China Road andBridge Corporation (CRBC) for development of the Rashakai Special EconomicZone.*
KPEZDMC Chief Executive Officer Saeed Ahmad signed the agreement in Chinawith CRBC Chairperson Lu Shan in the presence of Prime Minister Imran Khanand Chinese Premier Li Keiqiang.
The ground breaking of the Rashakai Special Economic Zone expected soon isto be attended by PM Khan and senior officials of China, said a statementissued by KPEZDMC.
In the MoUs signed in the KP-China Roadshow in April last year, the KPgovernment signed the concessional agreement with the CRBC to develop the1000 acre Rashakai Special Economic Zone during PM Khan visit to China.
The Rashakai SEZ is a key milestone and the first project forimplementation of industrial cooperation under CPEC.
CRBC, in a joint venture with KPEZDMC, plans to develop 1,000 acres of landas a Special Economic Zone at Rashakai.
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CRBC will market the zone to local and foreign investors. It will havepharmaceutical, textile, food and beverages, steel and variousengineering-related industries.
This initiative by the KP government will provide direct and indirect jobopportunities to 200,000 locals of the region once the zone is fullycolonised.
Investment worth billions is expected by industrialists from Pakistan andabroad. Online applications for the Rashakai Special Economic Zone are openand applications for hundreds of acres have already been received.
