Punjab govt invites bids to develop new industrial city

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Punjab govt invites bids to develop new industrial city

Punjab government invited bids for the development of the Allama Iqbal Industrial City after formally launching priority special economic zones under the China-Pakistan Economic Corridor (CPEC) to accelerate economic activities besides generating employment opportunities.

Faisalabad Industrial Estate Development and Management Company (FIEDMC) chairman Mian Kashif Ashfaq said that the Allama Iqbal Industrial City has been planned over an area of 4000 acres, which is strategically located on the Motorway M-4 near Sahianwala Interchange, Faisalabad.

He said that the main boulevard, entrance gate and boundary wall will be completed within six months. He said that the M-3 Industrial City spread over an area of 4500 acres of land, another mega project of FIEDMC under Special Economic Zone, had attracted $1.8 billion foreign direct investment as well investment from local industrialists.

Kashif Ashfaq said that the major famous brands like Coco Cola, Hyundai, Renault, Hayat Kimya, Daewoo Treet JV, Dell JW, Time Ceramics, Orient, Ghani Group, Brighto Paints and many more will have their presence there. He said more than 22 Chinese companies have started building their infrastructure in M-3 Industrial City and private sector preferred to work with FIEDMC due to its supportive infrastructure and One Window Service Center, especially established for Chinese companies.

On connectivity of the Allama Iqbal and M-3 Industrial Cities with other parts of the country, he said they are connected with Karachi Port in South via Motorway M-4 and deep seaport of Gwadar and in North with Islamabad, Peshawar, China, Afghanistan and Central Asian Republics.

The average lead time to all major markets of Punjab for finished product delivery starts from one hour and forty five minutes and this has made FIEDMC attractive for investment. Kashif Ashfaq said the federal government has prioritized provision of electricity and gas for industries starting their construction in the Allama Iqbal Industrial City to support their construction activities.

Staff Writer

The Wallet Team produces these stories.

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