ISLAMABAD: The government on Thursday allotted 40 acres of land in Rishkai Special Economic Zone (RSEZ) of Khyber Pakhtunkhwa to a Chinese-owned steel company.
At a meeting, the SEZ committee of the Rashaki Special Economic Zone allotted the land to Century Steel (Pvt) Ltd., which is owned by Fuju Juliethi International Company. The company owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia with a net capacity of three billion tons of iron and steel products. Century Steel plans to invest Rs 50 million and will manufacture 0.25 million tonnes of steel products at its plant at Rashkai SZ.
The project will use 45 megawatts of electricity and provide direct and indirect employment to 1,000 people. Resources have been mobilized from China and Chinese engineers and personnel have set up a site office to implement the project without delay. have been. This is an important day for the industrialization of Khyber Pakhtunkhwa as the first zone enterprise from China has been included in Rashakai SZ. Many applications for plots have been received and many industries will soon start construction in the zone. Rashkai SEZ comes under the umbrella of CPEC and is the first project of industrial cooperation between China and Pakistan.
The 1,000-acre SEZ will create 200,000 direct and indirect jobs to attract investment of Rs. 347 billion. In Rashkai SEZ, 10 MW power has been provided through 11 KV feeder and work is underway on 160 MW, 132 KV grid station. Due to its proximity and proximity to the Torkham border and the Central Asian motorway, the zone is expected to be a game changer for Khyber Pakhtunkhwa as well as Pakistan.