Daily Times
April 20, 2021
First Chinese industry on Monday laid its foundation in the CPEC Rashakai Special Economic Zone (SEZ) and have started work in the Zone. Chairman China Pakistan Economic Corridor (CPEC) Lt. General (retd) Asim Saleem Bajwa visited the site along with Chinese Ambassador Nong Rong. In his tweet Asim Bajwa said the SEZ was progressing well and all the amenities including power, gas, access road, security wall were being provided as per envisaged time lines. Meanwhile, an official of Khyber Pakhtunkhwa Board of Investment told APP that the SEZ Committee of Rashakai Special Economic Zone had allocated 40 acres of land to Century Steel (Pvt) Ltd, which was owned by Fuzhou Julitaihe International Company. The Century Steel has to invest US $ 50 million and will produce 250,000 tons steel products at their plant in the Rashakai SEZ.
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.
Rashkai SEZ welcomes first foreign firm
Chinese steel manufacturer allocated 40-acre land
PHOTO: FILE
ISLAMABAD:
In a major development in the industrialisation of Khyber Pakhtunkhwa, the Special Economic Zones (SEZs) Committee on Friday approved the first-ever allotment of land to a foreign company in the Rashkai, the Board of Investment (BoI) said in a statement on Friday.
The committee has approved the allotment of 40 acres of land to the Century Steel (Pvt) Ltd. The company is owned by the Fuzhou Julitaihe International Company of China, which is involved in steel and iron production and sales business.
The Fuzhou Juliethai also owns steel mills in Indonesia, Myanmar, Cambodia and Ethiopia. Its iron and steel production capacity is more than 3 billion tons. The statement said that the Century Steel planned to invest $50 million.