Faisalabad building modern EPZ.
Faisalabad Industrial Estate Development and Management Company (FIEDMC) and Export Processing Zone Authority have signed a Memorandum of Understanding to establish 'FIEDMC Export Processing Zone (EPZ)' in M-3 Industrial City, Faisalabad.
According to a top official FIEDMC would provide state of the art facilities like uninterrupted power, off-shore bank branches and customs office etc, besides tax incentives as envisaged in EPZ Act.
M-3 Industrial City was conceived for systematic, planned and organised industrialisation of Faisalabad with futuristic vision. Located near Faisalabad Dry Port and spread over 4,500 acres on eastern side of M-3 Motorway, it would have direct access to all big consumption and raw material centers of the country including Karachi port.
FIEDMC Board of Directors consists of leading business tycoons to ensure achieving its objectives.
FIEDMC had earlier developed Value Addition City (VAC) over 225 acres for raising value adding industrial units. With world class facilities provided in it, VAC proved a success. It is now fully functional with a dedicated Garment City developed by M/o Textile Industry. It hosts about 10,000 job opportunities.
He said that FIEDMC has now planned EPZ, where duty free imports would also be allowed for finished exportable products.
A labor colony, trauma center, hospital, vocational training institute, burn center and a spacious country club are also being developed here. Latest GRP pipes of 80-90 years life are being used here for water supply.
FIEDMC is also planning a 50 MW coal based power station to ensure uninterrupted electricity supply to industries here. Land for this has been allocated and its construction would start soon jointly with Punjab Energy Department.
He said that proposed EPZ would not only encourage exports of textile but also open door to exports of chemical engineering, pharmaceuticals and
would have a chain of textile vendors.