Peshawar: According to news reports, work in the Rashakai economic zone has begun in full swing and the KP government has established the RSEZDOC (Rashakai Special Economic Development and Employment Corporation) to manage, operate, develop, and market the area.
RSEZDOC, a special purpose automobile company, is registered with the SECP (Securities and Exchange Commission of Pakistan) with five directors. Four of these managers will be appointed by the China Road Bridge Corporation (CRBC), and the fifth will represent the Khyber Pakhtunkhwa Corporation for the development and management of economic zones.
Industrial work on the project also began with a Chinese state-owned company that began work on a steel project. 40 acres of land have been allocated for the project, and the company has begun building infrastructure. The daily steel production will amount to 4,000 tons.
The region also received 1,700 applications for industrial land plots from Pakistani and Chinese investors. However, no specific quota has been set as to who will acquire these lands. Still, preference will be given to investors who will be in high-tech, export-oriented industries, and industries that can provide improved alternatives to imports.
