Pakistan has invited Boeing Company and Airbus to set up their factories here and both aviation giants, one from US and the other from Europe, have shown keen interest to invest up to $20 billion in 7 years, sources told Business Recorder here on Sunday.
They said that 60,000 kanals land is being acquired near the Pakistan Aeronautical Complex, Kamra, in District Attock, midway between Islamabad and Peshawar, which has the potential to become the Seattle of Pakistan and provide jobs to 35,000 engineers, technicians and other skilled workers.
Pakistan Aeronautical Complex (PAC), an organ of Pakistan Ministry of Defence, is playing a pivotal role in the aeronautical industry and avionics with its four components, the Mirage Rebuild Factory, Aircraft Manufacturing Factory, F-6 Rebuild Factory, and Kamra Avionics and Radar Factory.
Sources said that Prime Minister Shaukat Aziz, who has been elected MNA from this area, is taking personal interest in the project to bring space technology, aerospace engineering, communication systems and sciences into Pakistan.
Boeing Company manufactures commercial airplanes, military aircraft and missile systems, airborne warning and control system (AWACS) and air traffic management. It has several factories in several countries, which produce major assemblies and parts for Boeing airplanes, and joint ventures for composite manufacturing airplane, modification and repair and spares.
The European aviation giant Airbus, a consortium of several countries, has a product line comprising 12 aircraft models--from the 100-seat single-aisle 'A 318' jetliner to 555-seat 'A-380'.
Industry analysts say that 21st century belongs in Asia, as there would be massive economic activity in this continent. Therefore, more and more US and European companies want to relocate their factories in Asian countries.
Pakistan, geographically and strategically ideally located, is the most attractive country for investors and industrialists in the changing economic, political, social and strategic scenario of Asia, as it is likely to be the hub of industrial and commercial activity in the near future.