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Faisalabad SEZ Begins Operations with Over RS 53 Bn Investment

Islamabad: With an investment of Rs53.6 billion in Faisalabad, the second Special Economic Zone (SEZ) under the China Pakistan Economic Corridor (CPEC) has started operations.

The Allama Iqbal Industrial City (AIIC), according to the Board of Investment (BOI), will draw in both domestic and foreign investors with its cutting-edge, international-standard facilities.

Additionally, the AIIC SEZ Committee met in this location and approved 15 applicants and distributed 320 acres.

A press release states that among the applicants are a Chinese company, Zhengbang Agriculture Pakistan Private Limited, which plans to invest Rs800 million in the agricultural industry. Of the other 14 local companies, Zahid Jee Textile Mills, Ocean Ceramics, and Ittihad Metals intend to launch businesses worth Rs11.8 billion, Rs11.2 billion, and Rs7.5 billion, respectively.

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