KARACHI: Upcoming mega industrial zones especially Bin Qasim Industrial Park and Creek Industrial Park, with the booming industrial activity and creation of tremendous job opportunities, are bound to bring a positive socio-economic change in the port city Karachi.
Mohsin Syed, CEO of National Industrial Park (NIP) on the occasion of signing ceremony of an agreement with the KESC power supplies expressed the hope that Bin Qasim Industrial Part (BQIP) at Port Qasim would be a game changer for new industrial landscape of the metropolis and would play an important role in creating employment for the Karachiites, besides generating a huge chunk of revenue for the national exchequer.
It may be noted that National Industrial Park Management Company signed an MoU with the KESC for supply of 4 MW power to the NIP for meeting the initial requirement of Bin Qasim Industrial Park (BQIP) project to ensure sustained growth of economy and industrial sector in the city. The NIP is intended to build its own grid station with the increase of power demand and for strengthening the power supply after appropriate arrangement by the KESC.
Besides generating a huge chunk of revenue for the exchequer, these industrial parks would also help transfer the technology with the arrival of foreign investment in these parks.
A new Japanese motorcycle manufacturer was all set to bring in Foreign Direct Investment (FDI) of $150 million in this park. This venture would create 45,000 jobs and promote ancillary industries. The project would lead to transfer of technology in manufacturing of motorcycles and the company would set up exclusive training centres for developing skills and capacity of vendors.
Syed said that the Park was being developed with a focus on provision of salient features integral to an industrial park. It would accommodate those clusters with linkages to the existing Down-Stream Industrial Estate with medium and small scale industries based on plastic sector, electronics and food and beverage production units.
He remarked that BQIP was the largest project being developed by the NIP on 930 acres land of Pakistan Steel. After completion it would match with any state-of-the-art industrial zone, providing best infrastructure facilities at par with international standards which will easily cater to the business needs of medium and large enterprises, he added.
He appreciated the KESC support and expressed gratitude to the KESC’s new management for their efforts towards ensuring uninterrupted power supply to industrial sector and assuring their best support in future.
Speaking about NIP’s Korangi Creek Industrial Park (KCIP) project where arrangements of setting up of 48 MW power plant is in its final stages, he proudly announced that five companies have already started construction of their manufacturing plants at the land allotted to them while three others were all set to break the ground. Construction of these industrial units which include consumer, food & pharmaceutical, garments/textile, light engineering, packaging and printing will take the city of Karachi into a new era of economic prosperity.
As soon as the industrial units established at the KCIP start production, this industrial zone alone will start contributing Rs. 40 billion annually to GDP and provide approximately 30,000 direct and 180,000 indirect employments. The project designed by Jurong Singapore, renowned internationally for their expertise is being developed at an estimated cost of Rs. 3.3 billion which will have an investment opportunity of Rs. 20 billion.