MoU signed for setting up industrial estate at M-3
Will have special zones for Halal units and female entrepreneurs.
The Punjab government has sanctioned a 50-megawatt dedicated coal-fired power plant for the estate in order to ensure uninterrupted electricity supply to industrial units. PHOTO: CREATIVE COMMONS
FAISALABAD:
Faisalabad Industrial Estate Development and Management Company, in collaboration with the Export Processing Zone Authority (EPZA), is setting up an export processing zone at M-3 Motorway, comprising a first of its kind Halal industrial zone and a special area for female entrepreneurs.
This was announced by FIEDMC Chairman Khawaja Asim Khursheed while speaking at a gathering of diplomats, domestic and foreign investors following the signing of a memorandum of understanding (MoU) for establishing the zone with EPZA here on Wednesday.
First project of FIEDMC was the Value Addition City where 95% of the area has been occupied. “It is a total success,” Khursheed remarked.
FIEDMC has now launched its second project – the FIEDMC Export Processing Zone.
“It will have best and state-of-the-art infrastructure coupled with one-window operation, customs clearance and offshore banking facilities for exporters,” Khursheed said. Work on the project had already been initiated.
The Punjab government has sanctioned a 50-megawatt dedicated coal-fired power plant for the estate in order to ensure uninterrupted electricity supply to industrial units.
EPZA Chairman Saadat S Cheema said EPZA was until now focusing on the port city of Karachi, but now it has come up with a new slogan “Karachi and along with Karachi”. In this connection, new industrial zones have been planned in other parts of the country.
Development work on phase-I was likely to be completed in the middle of this year.
Published in The Express Tribune, February 28th, 2013.
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Faisalabad Industrial Estate Development and Management Company, in collaboration with the Export Processing Zone Authority (EPZA), is setting up an export processing zone at M-3 Motorway, comprising a first of its kind Halal industrial zone and a special area for female entrepreneurs.
This was announced by FIEDMC Chairman Khawaja Asim Khursheed while speaking at a gathering of diplomats, domestic and foreign investors following the signing of a memorandum of understanding (MoU) for establishing the zone with EPZA here on Wednesday.
First project of FIEDMC was the Value Addition City where 95% of the area has been occupied. “It is a total success,” Khursheed remarked.
FIEDMC has now launched its second project – the FIEDMC Export Processing Zone.
“It will have best and state-of-the-art infrastructure coupled with one-window operation, customs clearance and offshore banking facilities for exporters,” Khursheed said. Work on the project had already been initiated.
The Punjab government has sanctioned a 50-megawatt dedicated coal-fired power plant for the estate in order to ensure uninterrupted electricity supply to industrial units.
EPZA Chairman Saadat S Cheema said EPZA was until now focusing on the port city of Karachi, but now it has come up with a new slogan “Karachi and along with Karachi”. In this connection, new industrial zones have been planned in other parts of the country.
Development work on phase-I was likely to be completed in the middle of this year.
Published in The Express Tribune, February 28th, 2013.
Like Business on Facebook to stay informed and join in the conversation.