KARACHI: National Industrial Park Management Company (NIP) on Thursday signed an agreement with Karachi Electric Supply Company (KESC) for supply of four megawatts of electricity to meet the initial requirements of the Bin Qasim Industrial Park.
NIP intends to have its own grid station when power needs of the Bin Qasim Industrial Park increases in future and with that KESC will step up electricity supply to the project.
Speaking at the signing ceremony, NIP CEO Mohsin Syed said the Bin Qasim Park would be a game-changer for a new industrial landscape in the metropolis and would play an important role in creating employment for the people of Karachi, besides generating huge revenue for the government.
He believed that this mega industrial zone would bring a positive change in the city as the unemployed youth now loitering in the streets would be trained to become productive citizens actively taking part in the economic progress of the country.
Syed revealed that a new Japanese motorcycle manufacturer was all set to bring in foreign direct investment worth $150 million, which would create 45,000 jobs and promote ancillary industries.
The project will lead to transfer of technology in motorcycle manufacturing and the company will set up exclusive training centres for developing skills and capacity of vendors. It is expected to contribute a huge chunk to the government exchequer.
Speaking about NIP’s Korangi Creek Industrial Park (KCIP) where arrangements for setting up a 48MW power plant are in final stages, Syed announced that five companies had already started constructing their manufacturing plants at the land allotted to them while three others were poised to break the ground.
These industrial units are associated with different fields like consumer goods, food and pharmaceuticals, garments and textile, light engineering, packaging and printing.
The KCIP, designed by internationally renowned Jurong Singapore, is being developed at an estimated cost of Rs3.3 billion, which will provide a Rs20 billion investment opportunity.
Published in The Express Tribune, July 12th, 2013.