Muhammad Zubair Motiwala, chairman Sindh Board of Investment (SBI), has said that marble city project is being established in Karachi on 300 acres of land to strengthen the provincial marble sector.
He said the zone would offer multiple opportunities for the value addition and processing for entrepreneurs being based on high End technology, innovation and services. This he said while presiding 4th Board meeting of Sindh Stone Development Company (SSDC) at his office.
Zubair Motiwala who is also the chairman of SSDC, which is developing the marble city, said the creation of this enclave will not only boost the export volumes from existing $60 million to a minimum $250 million.
The chairman said that it would also help bring in more FDI. He said the marble city is one of the priority projects of the Sindh government and SBI is committed to materialie this project at earliest. Motiwala said that a high demand exists in the international market for Pakistani marble, but it could not be satisfied due to dearth of modern technology.
Zahid Hussain Memon, secretary Mines and Minerals, said that the establishment of the project is a good omen for the sector. He said that while establishing the marble city, it is also important that the mining policies are also made entrepreneur friendly. He also said that the investors should be incentivised and facilities shall be provided for the granite and stone entrepreneurs of Sindh. Muhammad Riazuddin, director general Sindh Board of Investment, said that the development of marble city will not only create jobs but will also uplift the socio economic conditions of the surrounding areas.
Haroon Rashid, director SSDC, said that the marble city project is a long awaited demand of the local marble entrepreneurs. He said that a secure and enabling environment would facilitate in attracting the foreign investment from countries such as Italy, China and Turkey.
Earlier director projects SBI, Abdul Azeem Uqaili, informed the forum the current status of the project. He said that the consultancy firm has been engaged as per SPRRA rules. The consulting consortium will carry out the feasibility study with technical viability, transaction analysis, commercial development plan and other technical and transaction related activities. A presentation on project status and way forward was shared by the consultancy firm M/S earnest and young.
