As per an announcement by the Board of Investment (BoI) on Friday, the Allama Iqbal Industrial City will be built in Faisalabad as the second special economic zone (SEZ) under the China-Pakistan Economic Corridor (CPEC).
According to the details, the Allama Iqbal Industrial City SEZ Committee approved fifteen applications and allotted 320 acres of land for projects in its meeting, following which investors can start establishing their units in the zone.
A Chinese firm called Zhengbang Agriculture Pakistan (Private) Limited is planning to invest Rs. 800 million in the agricultural sector, while Zahid Jee Textile Mills, Ocean Ceramics, and Ittehad Metals will establish businesses worth Rs. 11.8 billion, Rs. 11.2 billion, and Rs. 7.5 billion respectively in the economic zone.
