Javed Iqbal Khattak, the CEO of the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), has announced that the Rashakai Special Economic Zone is expected to become operational next month.
He added that the facility is finally close to completion, with 98% of the infrastructure development work finished.
The CEO informed journalists that the Rashakai Special Economic Zone, which spans over 1,000 acres, is a key project of the KP government under the China-Pakistan Economic Corridor (CPEC) framework. The zone functions as a CPEC Special Economic Zone and is one of the four prioritized special economic zones under the CPEC initiative.
He added that the power transmission and transformation aspect of the Rashakai SEZ project is almost finished. He emphasized that the facility will be dedicated to setting up export-oriented industrial units.
Khattak further stated that the company is anticipating an investment of $400 million and the creation of 250,000 to 300,000 direct and indirect jobs. The majority of the labor force, around 80%, is expected to be sourced locally, specifically from the surrounding area.
The executive said that 18 Pakistani and Chinese firms have partnered to invest in the project. He expressed optimism that the project would drive not just the economic development of KP but also enhance the national economy. Furthermore, he said that many investors have already begun building their industrial units in the zone.
Lastly, he commented that the arrival of modern machinery accompanied by trainers and master trainers would bring long-term benefits to future generations.
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