The Federal Minister for Planning, Asad Umar, chaired a meeting in Islamabad to review the progress on the development of the Rashakai Special Economic Zone under the CPEC Framework.
The meeting highlighted the progress of work in SEZ, laying special emphasis on the supply of gas and electricity to the zone. It was revealed that 10 MW electricity is available for Rashakai SEZ while the transmission line for another 160 MW is under construction and will be completed by November 2021. A further addition is also planned for 2022. SNGPL representatives informed that work on the gas supply of 30 MMCFD to Rashakai SEZ is underway and scheduled to be completed by the end of December.
The representatives of the developers stated that the first unit steel plant was under construction and would be soon importing its plant and machinery. In the first phase, they plan to set up their first unit with an investment of $79 million to produce 500000 tons of Rebar/ Construction steel. In the second phase, they intend to set up their second unit for the production of Industrial Steel with an investment of $77 million while the total investment for three phases will be $42.2 million.
Representatives from FBR and BOI conformed that all the incentives under the SEZ Act are available to the potential investors in the Zone. The Minister directed the relevant Ministries to ensure completion of their respective task within timelines. He also directed Planning Division to carry out implementation monitoring of the various activities related to the SEZs.
Chairman CPEC Authority, Representatives from KP BOI, and senior officials of the Federal & Provincial governments attended the meeting.
