KARACHI: Federal Minister for Planning, Development and Special Assistant Asad Umar has asserted that the projects under the China-Pakistan Economic Corridor (CPEC) were progressing at fast pace during the tenure of the PTI-led federal government.
He expressed his views while addressing the reception ceremony of first consignment, carrying equipment and machinery for Century Steel at Karachi Port, for setting up a steel mill in Rashakai Special Economic Zone.
On the occasion, Chairman CPEC Authority Asim Saleem Bajwa, representatives of Century Steel, officers of KPT, and others were present.
“The way government handled pandemic situation and made efforts to contain the spread of COVID-19, it would also continue working day and night for the success of the CPEC,” the federal minister added.
Umar also announced that CRBC, a Chinese firm, had signed an agreement with Pakistan under CPEC to promote foreign investments for development and marketing in Rashakai Special Economic Zone (SEZ).
The federal minister also said that Century Steel, a Chinese firm with an investment of US $ 240 million, would set up a steel mill in Rashakai SEZ which would produce about 1.5 million tons of steel.
“The firm would also employ over 600 Pakistanis during construction phase while in second phase over 1000 people would be provided jobs,” Umar said, adding, “The work for the provision of basic necessities including electricity and others at Rashakai SEZ was underway at a fast pace.”
