http://www.dailytimes.com.pk/default.asp?p...13-8-2005_pg5_5NESPAK also get 10 billion rupee contract for textile city outside Karachi.Pakistan Textile City inks agreement with NESPAK By Imran Ayub
KARACHI:
Pakistan Textile City on Friday signed an agreement with National Engineering Service Pakistan (NESPAK) to build Rs 10 billion infrastructure in the 1,250-acres land located in the outskirt of the metropolis.“The project cost is around Rs 10 billion,” Dewan Yousuf Farooqi, chairman Pakistan Textile City told reporters after signing the ceremony. “The master plan of the city is ready and now we have put in efforts to build infrastructure.”
He said the board of directors of the city had decided to pursue the institutions concerned for infrastructure development and would review its progress on a monthly basis.
The board of directors, which met before the signing ceremony, took up several matters to discuss and later concluded in the notes that the next sitting would decide issues regarding infrastructure development and co-ordination with the concerned agencies.
Located in the outskirt of metropolis, the 1,250-acres Textile City project near Port Qasim was envisaged last year with 23-kilometre water pipeline, 24-hour supply of gas, water and electricity and a smooth system of sewerage.
Zahid Zaheer, CEO Pakistan Textile City said Port Qasim had handed over 750-acre land to the city management, which was ready to develop with the infrastructure facilities.
“We have completed the survey work,” he said. “We have not assessed the land cost of the city as first we have to estimate the development project cost. Plotting would be started soon after the development institutions start work.”
A public-private joint stock company has already been set up with an initial capital of Rs 1.10 billion.
he federal government is sharing Rs 500 million in the company while contribution of Rs 600 million has been for the consortium of National Bank of Pakistan, PICIC, Saudi Pak, Pak Kuwait, Pak Oman, Pak-Libya, PIDC, Port Qasim and the Sindh government.
The chairman, Mr Farooqi, said the city had around Rs 1 billion funds and more would be arranged to gear up the infrastructure development projects within the next few months.
“We are optimistic that we would be able to sign agreements with the SSGC , KWSB and KESC so they can start their projects,” he said.
He said the Textile City project was first of its kind in Pakistan, as it would have a desalination plant, a self-power generation plant and all the other modern facilities required for industrial production.
Syed Masood Alam Rizvi, federal secretary textile; Zafar Iqbal, CEO Pak-Oman Investment Company; Qamar Fazal Jameel of Port Qasim, and Razzaq Teli attended the signing ceremony.
Dewan Yousuf Farooqui, chairman Pakistan Textile City and Asad A I Khan, the vice president of NESPAK signed the agreement.
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