Chinese iron and steel conglomerate which owns steel mills in Indonesia, Myanmar, Cambodia, and Ethiopia is planning to invest north of $50 million at Rashakai Economic zone in setting up a steel manufacturing plant in Pakistan.
The enterprise has been allotted 40 acres of land at Rashakai SEZ. The project will consume 45MW electricity and will create more than 1,000 direct and indirect employment opportunities. The company will produce 0.25 million tons of steel products at Rashakai SEZ and will consume 45MW of electricity.
According to sources 10MW of electricity at the economic zone had already been arranged through 11kV feeder, while work is in progress on the 160MW, 132 kV grid station. Utility facilities including electricity, gas, water, and others for Rashakai Special Economic Zone are expected to be completed at the end of this year.
Due to its strategic location on the motorway and close proximity to the Torkham border and Central Asia, the Rashakai SEZ is expected to be the game-changer for Khyber-Pakhtunkhwa. The 1,000-acre SEZ will create 200,000 direct and indirect jobs and is expected to attract Rs347 billion worth of investments.
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