CRBC signed an agreement with the government of Khyber Pakhtunkhwa for the development of Hattar Special Economic Zone- Extention
Summary
Funding agency [Type]
China Road & Bridge Corporation (CRBC) [State-owned Company]
Recipient
Pakistan
Sector
Industry, mining, construction (Code: 320)
Flow type
Vague TBD
Infrastructure
No
Category
Project lifecycle
Geography
Description
In early 2018, China Road and Bridge Corporation (CRBC) signed an agreement with the government of Khyber Pakhtunkhwa to develop the Hattar Special Economic Zone (SEZ) Expansion. CRBC plans to develop 1000 acres of land around the current SEZ. This expansion comes after reports that the existing SEZ was at capacity. The Hattar Special Economic Zone was established in the 1970s as the Hattar Industrial Zone. It was granted Special Economic Zone status in June of 2016, which granted participating businesses reduced taxes and freedom to conduct foreign currency transactions. The expansion includes an Rs484 million transmission station and an Rs1.930 billion transmission line, however the total cost of the whole expansion as well as the source of the financing is unknown. However, the park is expected to attract Rs100 billion from foreign investors and generate 100,000 jobs upon completion. The construction of the expansion follows an MoU signed at the KP-China Roadshow in April 2017. In March 2018, it was reported that CPEC was prioritizing this economic zone over a similar development location in Rashakai. As of December 2020, the extension is currently under construction.
Number of official sources
0
Number of total sources
9
Details
Cofinanced
No