Peshawar: CEO KPEZDMC indicates the completion and commencement of the Rashakai Special Economic Zone in March 2023.
Javed Iqbal Khattak, the Chief Executive Officer (CEO) of the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), stated that the Rashakai Special Economic Zone (SEZ) is one of the significant projects of the KP government under the China-Pakistan Economic Corridor (CPEC). 98% development work of the project is completed, and it is anticipated that the project will be operational from next month.
Khattak added that the Rashakai SEZ, covering over 1,000 acres, is one of the four prioritized special economic zones under the CPEC initiative. The power transmission and distribution system are near completion.
While sharing details, the CEO mentioned the potential of the project. The project is a joint venture of 18 Chinese and Pakistani companies. He said that KPEZDMC expects a massive investment of around $400 million. Moreover, the project will create approximately 250,000-300,000 jobs. One of the project’s defining features would be hiring about 80% of the local labor force to benefit the residents.
The project’s primary goal is to establish export-oriented industrial units, and several investors have started constructing their industrial units in the SEZ. The project is expected to play a vital role in KPK’s and Pakistan’s economic development.For the latest Real Estate News and Blogs, visit Realtors blogs.