PESHAWAR: The provincial government of Khyber Pakhtunkhwa has completed infrastructure development work on the first phase of the Rashakai Special Economic Zone, a flagship project under the industrial cooperation of China Pakistan Economic Corridor (CPEC) framework.
Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), a public sector company of the KP government has taken lead by completing the first phase of the China Pakistan Economic Corridor (CPEC) flag-bearer Rashakai Special Economic Zone, at District Nowshera.
To celebrate the completion of the first phase of the project, a ceremony was held at Rashakai Special Economic Zone with KP Caretaker Chief Minister Muhammad Azam Khan as chief guest on the occasion. Besides, provincial ministers, Chief Secretary KP, Secretary Industries Khyber Pakhtunkhwa, the officials of the Khyber Pakhtunkhwa Economic Zones Development & Management Company (KPEZDMC), federal and provincial Boards of Investment and a large number of local investors also attended.
The zone is situated adjacent to Islamabad-Peshawar Motorway (M1), which directly links Afghanistan and Central Asian States via Peshawar. It is about 80KM and 60KM away from the New Islamabad International Airport and Bacha Khan International Airport, Peshawar while ML1 (Peshawar-Karachi) Railway project is connecting it with the main cities including Islamabad, Lahore and Karachi etc.
The zone occupies approximately 1000 acres and is developed in three phases where Phase I, is 247 acres. It provides dedicated internal road, drainage (including effluent treatment plant), gas 11KV power, communication to the zero point of zone enterprises. It also provides a customized workshop, complex building, apartment and other supporting civil works.
In his briefing on the occasion, the Chief Executive Officer (CEO) Javed Iqbal Khattak said that the completion of the first phase of the Rashakai Special Economic Zone comprising three phases covering an area of 247 acres was due in December 2023, but due to better team work and coordination with China Road and Bridge Company (CRBC) it has been completed six months prior of its specified time period. Rashakai Special Economic Zone is first completed project initiated under China Pakistan Economic Corridor (CPEC) in Pakistan. This marvelous performance shown by a public sector company of the Khyber Pakhtunkhwa has given an edge to the province over other provinces of the country. So far, an investment to the tone of Rs.85 billion has already been made in the zone and besides, Chinese several domestic big industrial groups are also investing in it. The investors are going to set up units for manufacturing APIs (Active Pharmaceutical Ingredients) a raw material for the pharmaceutical industrial units while another investor has also shown interest in establishing a vaccine manufacturing unit in the zone while Pakistan Oxygen, a largest oxygen manufacturing unit has already invested in the zone.
Addressing the ceremony, the Caretaker Chief Minister Khyber Pakhtunkhwa, Muhammad Azam Khan appreciated the exceptional efforts and unwavering commitment of China Road and Bridge Corporation (CRBC) and Khyber Pakhtunkhwa Economic Zones Development & Management Company (KPEZDMC) for successfully completing Phase -I of the project six months before the completion date.
Copyright Business Recorder, 2023
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