The first foreign ceramics factory has started the construction of its one-of-a-kind ceramics unit with an investment of $70 million in Bhalwal Industrial Estate. The project is managed by Punjab Industrial Estates Development and Management Company.
PIEDMC has allotted 37 acres of land to a prominent Chinese company for the purpose. The ceramics unit is expected to be operational by March 2020.
Punjab Industrial Estates Chairman Nabeel Hashmi said that PIE has fetched its first foreign direct investment for the second year of the Pakistan Tehreek-e-Insaf (PTI) government, which is very encouraging.
He foresees more development opportunities in the near future, as PIE has already been providing facilities to investors on a large scale.
PIE, under its one-window service centre, would provide all services to the investors and industrialists within the stipulated time, he added.
The PIE chairman said that at present, Pakistan imports ceramics from different countries, which is expected to come down after the Chinese unit is operational.
“This is a great sigh of relief, as it will also help generate employment in the area,” he added.
It is worth mentioning that the Bhalwal Industrial Estate was recently awarded ‘Special Economic Zone’ status by the federal government.