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Allama Iqbal Industrial City Announced RS 35.8 Billion Investment

The Board of Investment (BoI) announced that the Allama Iqbal Industrial City, the second special economic zone (SEZ) under the China-Pakistan Economic Corridor, will be constructed in Faisalabad (CPEC).

While Zahid Jee Textile Mills, Ocean Ceramics, and Ittihad Metals will establish businesses worth a combined Rs. 11.8 billion, Rs. 11.2 billion, and Rs. 7.5 billion in the economic zone, respectively, Zhengbang Agriculture Pakistan (Private) Limited, a Chinese company, plans to invest Rs. 800 million in the agricultural industry.

Land was also given to Naseem Export Private Limited, who intends to invest Rs. 4.5 billion as a result.

Through the SEZ’s MIS Module, created by the BoI, the enterprise entry and land allocation processes were managed, ensuring transparency and ease of doing business.

Atif Bokhari, the chairman of the BoI, praised the development and asserted that the automation of the SEZs would benefit investors.

Read More: Top 3 Housing Schemes for Quick Profit in 2023 (Updated)

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