The Board of Investment (BoI) has approved establishment of special economic zone at port Qasim aimed at providing all facilities to the investors at one place for promoting investment in the country.
The Bin Qasim Industrial Park will be spread over an area of 930 acres near Port Qasim which will cost about Rs 10 billion.
Official sources said the government expects Rs 50 billion direct investments in this special economic zone that will contribute one hundred billion rupees to the overall size of the economy and generate direct employment for 50,000 people.
The project has been designed to cater to the needs of medium and large entrepreneurs aspiring to invest in the engineering and steel industry of Pakistan.
The proposed industrial clusters will include engineering and equipment units, foundries and steel fabricating units, light engineering units and furniture and woodworks units. It will also host chemicals, food, pharmaceuticals and beverage industries.