Chinese Steel Conglomerate to Invest $360 Million in Rashakai SEZ

A Chinese company, Century Steel (Pvt) Ltd., will be investing $360 million in the Rashakai Special Economic Zone in Khyber Pakhtunkhwa, Business Recorder reported.

For this purpose, 40 acres of land has been allocated to the company, which already has steel mills across Indonesia, Myanmar, Cambodia, and Ethiopia, with a net capacity of 3,000 million tons of iron and steel products.


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The investment will be made under the China-Pakistan Economic Corridor (CPEC), said CPEC Project Director, Dr. Liaquat Ali Shah, while speaking to the media. He also informed that by the end of the current year, all utility facilities, including electricity, gas, water, etc., will be completed for the said economic zone.

The Chinese conglomerate is also the first foreign company to establish its plant in the Rashakai Special Economic Zone in the first phase, with a planned investment of $50 million.

Rashakai SEZ is the first industrial cooperation project between China and Pakistan, Shah informed. The SEZ spanning over 1,000-acres will create 200,000 jobs, directly and indirectly, and is expected to fetch Rs. 347 billion in investments, he elaborated.

The investment in concern will produce 0.25 million tons of steel products annually, and according to a statement of the Board of Investment (BoI), it will consume 45MW of electricity and create 1,000 jobs.


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As of now, 10MW of electricity has already been arranged at the economic zone, and work is in progress on another facility for 160MW of electricity.

The strategic location of Rashakai SEZ, close to the Torkham border and Central Asia, will make it a crucial zone for Khyber Pakhtunkhwa.



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