Islamabad: According to a recent news report, the second Special Economic Zones (SEZ) under the China Pakistan Economic Corridor (CPEC) has initiated operations with an investment budget worth Rs. 53.6 billion in the city of Faisalabad.
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According to the details, on Monday, the Board of Investment (BOI) stated that the Allama Iqbal Industrial City (AIIC) would attract a lot of foreign and local investors with its state of the art world-class facilities.
A summit od the AIIC SEC Committee was also held which approved 15 applications and allotted land of 320 acres.
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The applicants include a Chinese Firm Zhengbang Agriculture Pakistan Private Limited with a plan of Rs. 800 million investment in the agricultural sector, while amongst the other 14 local firms includes:
- Zahid Jee Textile Mills worth Rs. 11.8 billion
- Ocean Ceramics worth Rs. 11.2 billion
- Ittehad Metals worth Rs. 7.5 billion
For more details, visit our website Property News.