The steel plant in Rashakai SEZ is to be established by a Chinese company

The steel plant in Rashakai SEZ is to be established by a Chinese company
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LAHORE: According to news, the Chinese conglomerate announced its decision to set up a steel mill in the Rashakai Special Economic Zone (SEZ) after the government gave the company nearly 40 acres of land in the area.

Read: Development of Rashakai Economic Zone at Its Peak

According to the details, the Rashakai Special Economic Zone commission has allocated the specified land to Century Steel (Pvt) Ltd; It is owned by Fuzhou Julitaihe International Company, a Chinese conglomerate that manufactures and markets steel and iron products internationally.

The group operates steel mills in Ethiopia, Indonesia, Cambodia, and Myanmar with a total capacity of nearly three billion tonnes of steel and iron products.

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The group is investing USD 50 million in the project. This is the first regional enterprise in China to receive approval from a huge number of applicants.

SEZ “Rashakai” also falls under the CPEC and is the first industrial cooperation project between China and Pakistan.

For more updates, visit:https://www.sirmaya.com/blog/news/

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