Engineering Post report
Gwadar Free Zone North, also known as Phase 11, has launched its first formal operations.
The zone, covering 2221 acres, enjoys exemption from all sorts of taxes and customs duties for a long period of 20 years.
This watershed development has coincided with Agven Private Limited, a fertilizer export company which geared up for its production operation in the middle of August 2023. Agven Private Limited was the first investor to establish an industry in Gwadar Free Zone North after procuring 10 acres of land for setting up fertilizer factory being the first in Gwadar both in size and product. Agven has started operations under temporary arrangements such as electricity and water being provided by China Overseas Port Holding Company.
Another export company Hangeng along with its branches, Hangeng Trade Company and Yuanhua Industrial Company is also all set to start its operations in Gwadar Free Zone Noth. When it becomes operational, fostering cultivation and purchase of agricultural products is expected to generate 1000 direct and 3000 indirect employment opportunities for the locals.