Rashakai economic zone: Allotment to foreign firm as zone enterprise approved

Peshawar
January 15, 2021
PESHAWAR: The SEZ Committee of Rashakai Special Economic Zone on Thursday allocated 40 acres of land to Century Steel (Pvt) Ltd.
The decision was made at a meeting held here on Thursday, said a press release.
The enterprise is owned by M/S Fuzhou Julitaihe International Company; a Chinese conglomerate, engaged in manufacturing and sale of Iron and Steel products internationally. Fuzhou Julitaihe International Company owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia with a net capacity of 3000 mn tonnes of iron and steel products.
Century Steel Pvt Ltd. plans to invest USD 50 mn and will produce 0.25 mn tons of steel products in their plant in Rashakai SEZ. The project will consume 45 MW electricity and employ 1000 manpower directly and indirectly. Resources from China have been mobilized and Chinese engineers and personnel are setting up a site office to execute the project without delay.

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