Pak BOI to set up two economic zones in Sindh
Pakistan's Board of Investment (BOI) has reportedly approved plans to set up two special economic zones (SEZs) in Sindh Province, with the objective of establishing a single point for investors to engage and interact, and to llok for ways to promote investment in the country.
Approval for the two SEZs was given by the Approvals Committee of the BOI, which met under the chairman, Dr. Miftah Ismail.
These zones will be established at Bin Qasim and Korangi Creek, reports the Express Tribune.
The Bin Qasim Industrial Park will be spread over an area of 930 acres near Port Qasim, and is adjacent to the Arabian Sea Country Club. The estimated project cost is Rs9.8 billion.
The BOI said in a statement that the government expects Rs.50 billion as direct investments in the special economic zone and generate direct employment for 50,000 individuals.
The Korangi Creek Industrial Park will be developed on 240 acres of land and is to be located in the Korangi Industrial area of Karachi, and will cost Rs.3.8 billion.
The BOI said that it expects Rs.20 billion in direct investment from the Korangi Creek Industrial Park and direct employment for 30,000 individuals.
(Posted on 23-07-2014)