Chinese enterprise to invest PKR 800 MN in AIIC SEZ
Pak-China agriculture cooperation is set to get a significant boost after the execution of agricultural projects in Allama Iqbal Industrial City (AIIC) in Faisalabad. As per a report, a Chinese firm Zhengbang Agriculture Pakistan Private Limited will invest Rs. 800 million in the special economic zone in Faisalabad.
After the launch of China Pakistan Economic Corridor (CPEC)’s first Rashakai SEZ, colonization of the second CPEC Allama Iqbal Industrial City (AIIC) Faisalabad begins with planned Rs.53.6 b Investment.
Gwadar Pro quoting Board of Investment (BOI) on Monday stated that AIIC SEZ Committee accorded “approval to 15 applicants and allotted land of 320 acres”.
The applicants include a Chinese Firm Zhengbang Agriculture Pakistan Private Limited with a plan Rs. 800 million investment in the agri sector.
Amongst the other 14 local firms, Zahid Jee Textile Mills, Ocean Ceramics, and Ittehad Metals to initiate business establishments worth Rs.11.8 billion, Rs.11.2 billion and 7.5 b respectively.
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