Rs2.5bn allocated for M-3 Industrial City

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FAISALABAD: The Faisalabad Industrial Estate Development and Management Company (FIEDMC) has allocated Rs2.5 billion for the development projects of M-3 Industrial City.

A spokesman for the FIEDMC said on Tuesday that the FIEDMC board, during its meeting, decided to construct a road like Faisalabad Expressway from Sahianwala to Chiniot Road in order to provide easy transportation facility up to the economic zone, established under the aegis of FIEDMC in Faisalabad.

He said that two new grid stations having a capacity of 40-megawatt each will also be established in M-3 industrial city in addition to launching of the safe city project in the area.

Chinese companies are willing to invest $5 billion in special economic zones, established under the CPEC initiative and Faisalabad Industrial Estate would also succeed in attracting huge investment for its industrial city during next 3-5 years, he added.

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