ISLAMABAD: In a great leap forward with regard to CPEC, the Gwadar Free Zone North, known as Phase II, spread over huge area of 2,221 acres, will launch its first formal operation in a month.
The zone will avail an exemption from all sorts of taxes and customs duties for a period of 20 years. The watershed development coincides with Agven Private Limited, an export fertilizer company, gearing up for its first production operation in the second week of August.
Sources associated with the development of Gwadar told the media that Agven Private Limited is the first investor to establish an industry in Gwadar North Free Zone. It procured 10 acres of land in the Free Zone to set up a fertilizer factory, marking a first for Gwadar in both size and product.
Agven will start operations under temporary arrangements such as electricity and water provision by the China Overseas Port Holding Company.
The factory’s construction started last year and was completed in a remarkably short time. Agven will offer hundreds of job opportunities and provide local business opportunities in terms of commodities and raw material supply, the Project Coordinator, Arsalan, told media. Upon operation, it can potentially attract other investors to Gwadar Free Zone. Arsalan added that sulfur and sulfuric acid, used as raw materials for fertilizer manufacturing, would be imported from Iran and Central Asian countries.
Another export company, Hangeng, along with its branches “Hangeng Trade Co (SMC-PVT) Ltd” and “Yuanhua Industrial Co,” is set to start operations in Gwadar Free Zone North. Hangeng Trading Co. Ltd. will foster cultivation and purchase of agricultural products like aloe vera and import pharmaceutical raw materials globally for processing in the Gwadar Free Zone and then export to China. Yuanhua Industrial Co. Ltd. will mainly engage in animal husbandry and livestock development. An official of Hangeng stated that the operation, expected to commence soon, will create 1,000 direct and 3,000 indirect employment opportunities for locals. Hangeng plans to build an industrial ecosystem in Gwadar, intending to establish aquaculture, medical treatment, and technical support facilities. For this, experts from China will be hired to train local youth in animal husbandry, livestock, and aloe vera cultivation. A free animal husbandry breeding hospital will be established to provide medical and technical services. According to Hangeng’s 2024 plan, it will develop aloe vera planting bases, train aloe cultivation technicians and engage in aloe processing.
