PESHAWAR: The Khyber Pakhtunkhwa government has accorded approval to proposals of two important projects to be recommended to the federal Board of Investment (BoI) for the status of Special Economic Zones (SEZs) to them.
The two projects included Daraban Economic Zone and Fatima Cement Limited ini D.I. Khan district. After getting approval from BoI, these industrial setups would be granted the status of SEZs. The approval is aimed to boost industrial activities in the province on a sustainable basis.
The approval was accorded in the 8th Board meeting of Khyber Pakhtunkhwa Special Economic Zone Authority (KPSEZA) held here on Monday with Chief Minister Khyber Pakhtunkhwa Mahmood Khan in the chair.
Special Assistant to CM for Industries Abdul Karim, Additional Chief Secretary Shahab Ali Shah, Principal Secretary to CM Amjad Ali Khan, concerned administrative secretaries, Chief Executive Officers (CEOs) Khyber Pakhtunkhwa Economic Zones Authority (KP-SEZA), KP-EZDMC, other members of the board attended the meeting.
After detailed deliberations, the board, under the relevant provisions of Special Economic Zone (SEZ) Act 2012, approved the proposals of the aforesaid projects to be recommended for the status of Special Economic Zones.
The multi-purpose Daraban Special Economic Zone, will initially be setup on 1000 acres of land with a capacity to be expanded to 3000 acres of land later on. Daraban Special Economic Zone will be established with an estimated cost of Rs. 7.8 billion which would create 40,000 direct and 120,000 indirect employment opportunities.
The Special Economic Zone will have mineral and food based industries. The meeting approved the recommendation of Fatima Cement Limited to be declared as Sole Enterprise Special Economic Zone which will be the first private sector SEZ of the province.
The Fatima Cement Limited would be setup with an estimated Cost of Rs.51.9 billion having the capacity to generate about 500 direct and about 4000 indirect employment opportunities.
The meeting reviewed in detail the implementation status of the decisions taken in the last meeting of the board. The forum was informed that feasibility study has been completed for the establishment of Centre of Excellence in Mohmand Marble City, and submitted to the Federal Board of Investment for further submission to Joint Working Group for inclusion in CPEC portfolio, adding that progress is being made on the acquisition of additional 140 acre of land for Mohmand Marble City.
It was informed that in the first phase, 10 MW electricity had been provided to Rashakai Special Economic Zone, work on the supply of 160 MW electricity under the 2nd phase would be completed in June this year, and work on the provision of 50 MW more electricity under the 3rd phase will be completed in December this year, whereas infrastructure work for the provision of 30 MMCFD gas to the Special Economic Zone has also been completed.
Similarly, work on the provision of 10 MW electricity to Hattar Special Economic Zone has been completed under the first phase, work on the provision of 40 MW electricity would be completed in June this year, and work on the supply of 110 MW more electricity would be completed in December next year whereas work on the supply of 24 MMCFD gas to the Special Economic Zone is also in progress.
Talking on this occasion, the Chief Minister termed the development of Industries on sustainable grounds in the province as one of the top priority areas of his government, and said that the provincial government was taking result oriented steps under a well-planned strategy to boost industrial activities with the aim to provide maximum employment opportunities for the people of the province.
He remarked that there existed a conducive environment for private sector investment in the province and the provincial government is extending all possible facilitation to the private sector investors under one roof.
Mahmood Khan said that establishment of Daraban Special Economic Zone would be a game changer for the southern region and will usher in a new era of sustainable development in the region.
Hailing the investment from Fatima Group in the province, the Chief Minister said that investment will create ample opportunities of employment for the local population; and urged upon other private sector investors to come forward and invest in the province to their own benefit as well to the benefit of the people of the province.