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. In a meeting, the SEZ Committee of Rashaki Special Economic Zone allotted the land to Century Steel (Pvt) Ltd., which is owned by Fujo Juliethi International Company. The company owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia with a net capacity of three billion tonnes 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 incorporated in Rashakai SZ.
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