Faisalabad Industrial Estate fetches $2bn investment: minister

LAHORE: Punjab Industries and Trade Minister Mian Aslam Iqbal said on Friday an investment of $2 billion had been made in the Faisalabad Industrial Estate (FIE).

“Punjab has become a hub of local and foreign investment because of conducive atmosphere for investment and ease-of-doing-business,” the minister said while talking to a delegation of industrialists and traders at his office.

Iqbal said a one-window operation facility has been launched in the FIE while a Chinese language facilitation centre was also being established there.

He said seven special economic zones (SEZs) had been established in the public and private sector.

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The minister informed the delegates that said the provincial industries department had so far received 18 applications for setting up new cement plants in the province.

“The investment of more than $1 billion is expected through the installation of new cement plants.”

The minister said the industries department would complete its process within 10 days on applications received for new cement plants and would forward the same to other concerned departments for further action.

“All resources are being utilized to accelerate industrialisation in the province,” he concluded.

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