ISLAMABAD, Nov 20 (APP):Punjab government on Wednesday invited bids for development of Allama Iqbal Industrial City after formally launching Priority Special Economic Zones under China Pakistan Economic Corridor ( CPEC) to accelerate economic activities besides generating employment opportunities.
This was stated by Mian Kashif Ashfaq, chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC).
He said that Allama Iqbal Industrial City has been planned over an area of 4000 acres, which is strategically located on Motorway M-4 near Sahianwala Interchange, Faisalabad,” says a press release issued here.
He said that main boulevard, entrance gate and boundary wall will be completed within six months. He said FIEDMC Special Economic Zones is the largest one in Pakistan over 8500 acres.
He further said M-3 Industrial City spread over an area of 4500 acres of land, another mega project of FIEDMC under Special Economic Zone had attracted US $ 1.8 billion Foreign Direct Investment as well investment from local industrialists.
He said the major famous brands like Coco Cola, Hyndai, Renault, Hayat Kimya, Daewoo Treet JV, Dell JW, Time Ceramics, Orient, Ghani Group, Brighto Paints and many more.
Mian Kashif further said more than 22 Chinese companies have started building their infrastructure in M-3 Industrial City and private sector preferred to work with FIEDMC due to its supportive infrastructure and One Window Service Center, especially established for Chinese companies.
Throwing light on connectivity of Allama Iqbal and M-3 Industrial Cities with other parts of the country, he said they are connected with Karachi port in South via Motorway M-4 and deep seaport of Gwadar and in North with Islamabad, Peshawar, China, Afghanistan and Central Asian Republics.
“The average lead time to all the major markets of Punjab for finished product delivery starts from one hour and forty five minutes and this has made FIEDMC attractive for investment.
FIEDMC Chairman Mian Kashif further said the federal government has prioritized provision of electricity and gas for industries starting their construction in Allama Iqbal Industrial City to support their construction activities.