Faisalabad SEZ begins operations with over Rs53bn investment

ISLAMABAD: The second Special Economic Zones (SEZ) under China Pakistan Economic Corridor (CPEC) has begun operations with an investment of Rs53.6 billion in Faisalabad.

In this regard, the Board of Investment (BOI) on Monday said that the Allama Iqbal Industrial City (AIIC) would attract foreign and local investors with its state of the art world standard facilities.

A meeting of the AIIC SEZ Committee was also held here, which accorded approval to 15 applicants and allotted land of 320 acres.

According to a press release, the applicants include a Chinese Firm Zhengbang Agriculture Pakistan Private Limited with a plan Rs800 million investment in the agricultural sector, while amongst the other 14 local firms, Zahid Jee Textile Mills, Ocean Ceramics, and Ittehad Metals to initiate business establishments worth Rs11.8 bn, Rs11.2 bn and 7.5 bn, respectively.

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