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Federal Minister for Planning, Development and Special Initiatives Asad Umar chaired a meeting to review the progress on the development of of Rashakai Special Economic Zone under CPEC Framework

Dated : 26 March 2021

Federal Minister for Planning, Development and Special Initiatives Asad Umar chaired a meeting to review the progress on the development of of Rashakai Special Economic Zone under CPEC Framework here in Islamabad on Friday. Chairman CPEC Authority, Representatives from KP BOI and senior officials of the Federal & Provincial governments attended the meeting.
The meeting was apprised of the progress of work in SEZ, especially regarding supply of gas and electricity to the Zone. It was informed that 10 MW electricity is available for Rashakai SEZ while the transmission line for another 160 MW is under construction and will be completed by November 2021. A further addition is also planned for 2022. SNGPL representatives informed that work on the Gas supply of 30 MMCFD to Rashakai SEZ is underway and scheduled to be completed by the end of December.

The representatives of the developers informed that the first Unit, Steel Plant was under construction and would be soon importing its plant and machinery.
In the first phase, they plan to set up their first unit with an investment of $79 million to produce 500000 tons of Rebar/ Construction steel. Whereas in the second phase, they intend to set up their second unit for production of Industrial Steel with an investment of $77 million and the total investment for three phases will be $42.2 million.

Representatives from FBR and BOI conformed that all the incentives under the SEZ Act are available to the potential investors in the Zone.
Minister directed the relevant Ministries to ensure completion of their respective task within timelines. He also directed Planning Division to carry out implementation monitoring of the various activities related to the SEZs.