ISLAMABAD: Punjab government on Wednesday invited bids for the development of Allama Iqbal Industrial City after formally launching Priority Special Economic Zones under China Pakistan Economic Corridor ( CPEC) to accelerate economic activities besides generating employment opportunities.
This was stated by Mian Kashif Ashfaq, chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC).
He said that Allama Iqbal Industrial City has been planned over an area of 4000 acres, which is strategically located on Motorway M-4 near Sahianwala Interchange, Faisalabad.
He further said M-3 Industrial City would be spread over an area of 4500 acres of land, and another mega project of FIEDMC under Special Economic Zone had attracted $1.8 billion Foreign Direct Investment as well as investment from local industrialists.
Throwing light on connectivity of 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 the major markets of Punjab for finished product delivery starts from one hour and forty five minutes and this has made FIEDMC attractive for investment.”
FIEDMC Chairman Mian Kashif further said the federal government has prioritized provision of electricity and gas for industries starting their construction in Allama Iqbal Industrial City to support their construction activities.
