Country's largest industrial estate to be set up in Faisalabad

RECORDER REPORT

LAHORE (September 17 2005): Punjab Chief Minister Chaudhry Pervaiz Elahi has said the largest industrial estate of the country is being set up in Faisalabad, stretching over an area of 4000 acres.

He said this project would be completed within five years wherein investment of $7 billion would be made. Similarly, a Value Addition City is being established in Faisalabad 70 percent plots of which has been sold and the industrialisation process there is in full swing.

Elahi was presiding over a briefing regarding Faisalabad Industrial Estate Development and Management Company, here on Friday.

Punjab Minister for Industries Muhammad Ajmal Cheema, Faisalabad Industrial Company Chairman Mian Muhammad Latif, Chief Secretary Kamran Rasool, Principal Secretary Finance & Taxation Salman Siddique, Secretary Industries Javed Majeed and other senior officers were also present.

The Punjab CM said infrastructure of international standard was being provided for industrial projects in Faisalabad. He said Value Addition City would prove to be a milestone in the development of textile sector.

Elahi said Value Addition City would be completed by the end of December and added that Faisalabad Industrial City would prove to be the most important industrial project of the country due to its vastness.

Faisalabad Industrial Estate Development and Management Company chief executive Khurram Iftikhar gave a detailed briefing on the occasion regarding industrial projects in Faisalabad.

He informed the meeting that provision of gas, water, electricity and other facilities has been ensured in value addition city, adding completion of industrial projects under private-public partnership have resulted in strengthening of private sector.

Faisalabad Industrial Estate Development and Management Company, chairman Mian Muhammad Latif said mega industrial estate of Faisalabad would give an impetus to local and foreign investment in textile, engineering, chemical and other sectors.

Copyright Business Recorder, 2005