Chinese industry lays foundation stone at Rashakai SEZ

The First Chinese industry has laid its foundation stone at the Rashakai Special Economic Zone (SEZ) of China Pakistan Economic corridor (CPEC). This marks the first industry which would be set up in a SEZ in Pakistan.

At the occasion Chairman China Pakistan Economic Corridor (CPEC) Lt General Asim Saleem Bajwa (retd) visited the site along with Chinese Ambassador Nong Rong and other relevant officials.

The foundation stone has been laid for the establishment of a steel manufacturing plant at Rashakai SEZ. The SEZ Committee of Rashakai Special Economic Zone has allocated 40 acres of land to Century Steel (Pvt) Ltd, which is owned by Fuzhou Julitaihe International Company. The Century Steel has to invest US $ 50 million and will ultimatel produce 250,000 tons steel products at their plant in the Rashakai SEZ.

Lt General Asim Saleem Bajwa (retd) in a tweet about the occasion said “SEZ progressing well,provision of amenities,including power,gas,access road,security wall as per envisaged timelines. 1st Chinese industry laid its foundations #cpecmakingprogress.”