22 Chinese Companies are building production units in Allama Iqbal Industrial City
The provincial government of Punjab has called for a tender for the development of Allama Iqbal Industrial City, Faisalabad. The M-3 SEZ is formally launched on November 21, 2019, which is prioritised along with Rashakai Basis and Dhabeji SEZ. Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC), Mian Kashif Ashfaq said Industrial city had been planned over the area of 4,000 acres and it is located near the M-4 Sahianwala Interchange, Faisalabad. He said in the interview that M-3 Industrial City had received $1.8 billion Foreign Exchange Reserves (FDI) from Pakistani investors. 22 Chinese companies are building their manufacturing units, he added. He also cited the one-window operation facility developed for Chinese investors in the Allama Iqbal SEZ.
LAHORE: The provincial government has invited bids for the development of Allama Iqbal Industrial City. The decision was made on Wednesday after formally launching priority special economic zones (SEZ), under the China-Pakistan Economic Corridor (CPEC), to accelerate economic activities and generate employment opportunities for the youth.
Speaking to The Express Tribune, Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq said that the Allama Iqbal Industrial City has been planned over an area of 4,000 acres. He added it is strategically located on Motorway M-4 near Sahianwala Interchange, Faisalabad.
He added that the main boulevard, entrance gate and boundary wall will be completed within six months. “These special economic zones are the largest in the country, spread over 8,500 acres.”
He further said that M-3 Industrial City has attracted foreign direct investment of US$1.8 billion and investment from local industrialists.
The chairman highlighted that more than 22 Chinese companies have started building their infrastructure in M-3 Industrial City. “We have developed a supportive infrastructure and established a one-window service centre, especially for Chinese companies.”
Speaking on the connectivity of Allama Iqbal and M-3 industrial cities with other parts of the country, he explained that the industrial cities are connected with Karachi port, in the south, via Motorway M-4. He added they are also connected to the deep seaport of Gwadar. In the North, they are connected with Islamabad, Peshawar, China, Afghanistan and Central Asian Republics. “The average lead time to all the major markets of the province, for finished product delivery, is one hour and 45 minutes.”
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