First Steel Plant to be Recognized in Rashakai by China
A Chinese iron and steel corporation has established a budget of $50 million and is the first international company to build a factory in the Rashakai Special Economic Zone under CPEC.
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According to a press release from the Board of Investment (BoI), the Chinese company has dispatched its engineers and workers, who have commenced setting up a construction site office.
The Rashakai Special Economic Zone is the first economic collaboration project between China and Pakistan, and it is included in the CPEC. It is estimated that the 1,000-acre zone will generate 200,000 direct and indirect jobs and Rs347 billion in investment.
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The Rashakai facility will have the capacity to produce 0.2 million tonnes of steel products annually, will utilise 45 MW of power, and will actively or passively employ one thousand individuals.
The BoI stated that an 11kV feeder for 10MW of power was already being installed in the free trade zone and that construction on the 160MW, 132 kV grid station was underway. Because of its proximity to the highway and its access to the highway, this location is ideal.
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