Groundbrea-king ceremony of the M-3 Industrial City will be held in September 2006, said Mian Muhammad Latif, Chairman, Faisalabad Industrial Estate Development and Management Company (FIEDMC.
Talking to newsmen here on Thursday, he said the progressive vision of President Musharraf and Chief Minister Punjab has helped to turn Faisalabad into a 'land of opportunities' by launching ambitious projects like Value Addition City (VAC) and M-3 Industrial City.
He said the Punjab government had established FIEDMC with the induction of private sector to plan, implement and manage projects and to gear up the process of industrialisation in the wake of World Trade Order (WTO).
There are 16 private sector directors on the FIEDMC board, while five would represent the provincial and district governments, he said, adding that the main power would remain with the private sector to tailor these projects according to the needs of new investors.
He said the first FIEDMC project of VAC was almost completed. It has been developed over 181 acres of land near the industrial belt of Khurrianwala, with modern concept of linear buildings and all infrastructural facilities to meet WTO requirements.
The M-3 Industrial City to be developed over 4371 acres along Motorway from Sahianwala up to Millat Road, will also have water treatment plants and state of the art facilities to fulfil the environmental and social compliance of WTO.
The industrial city will accommodate new industries and will encourage the shifting of existing industrial units operating in congested commercial and residential areas of Faisalabad.
Mian Muhammad Latif said that two-road construction contracts involving Rs1.1 billion had already been awarded to two firms, one of which had started the groundwork while the other would commence work within the next couple of weeks.
These projects will not only gear up the pace of industrialisation in the province, they will also help create a million job opportunities for unemployed youth, he observed.
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