The Government of Khyber Pakhtunkhwa signed Engagement Agreement with China Road and Bridge Corporation (CRBC) for development of Rashakai Special Economic Zone. Phase A of the project comprises of an area of 1,000 Acres while Phase B spreads over an area of 1600 acres which is to be developed. It also included development & operation of a 225 MW Combined Cycle Gas Turbine Power Plant.
The agreement was signed by Chief Executive Officer, KPEDMC Adil Salahuddin on behalf of the Government of Khyber Pakhtunhwa and General Manager CRBC, Pakistan Mr. Li Zhihuai the other day. The Chief Minister KP Parvez Khattak, and Secretaries P&DD, Shahab Ali Shah, Industries Ruhollah Jan and other high ups witnessed.
Rs. 100 billion investment from Industrialists and generation of 100,000 Direct & Indirect Job Opportunities is expected.
In pursuance of the MOUs signed in KP-China Roadshow (April 2017), the Government of Khyber Pakhtunkhwa after deliberations signed an agreement with the CRBC to develop Rashakai Special Economic Zone (Phase A 1000 acres and Phase B – 1600 acres) and install 225 MW Combined Cycle Gas Turbine Power Plant.
KPEZDMC along with China Road and Bridge Corporation – a Company state owned enterprise by the Government of the People’s Republic of China withrelevant experience and capacity.
Its average annual turnover of over is US$ 1000 million. CRBC plans to develop in phase A, 1000 Acres of land as Special Economic Zone at Rashakai and install 225 MW CCGT power plant. CRBC will market the Zone to Chinese investors with main target as Chinese factories.
Rashakai Special Economic Zone will have industries like Pharmaceutical, Textile, Food & Beverages, steel and various engineering related industries.
This initiative by the Government of KP will provide direct & indirect job opportunities to 100,000 locals of the region once the SEZ is fully colonized.
Investment of Rs. 100 billion is expected by industrialists from Pakistan and abroad. Online applications for RSEZ is open and applications for more than 200 acres has already been received.
The ceremony was attended by CM KP, Chairman KP BOIT, Secretary P&D and representatives from KPEZDMC and CRBC. KP, Chief Minister Pervez Khattak said ‘this is another milestone achieved by the Government of KP. This project will bring prosperity in KP by providing much needed job opportunities in the region.’
The Government of Khyber Pakhtunkhwa is working towards bringing about a conducive and enabling environment for investment in Khyber Pakhtunkhwa
In order to build upon its natural strengths, KP Economic Zones Development & Management Company is currently working on development of Special Economic Zones across the Province to promote industrial growth.