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Monday, May 20, 2024
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Construction approved at Korangi Creek Industrial area


Karachi: The National Industrial Parks Development and Management Company (NIP) and Sci Life Pharma Private Limited agreed and signed a licence  that authorize to allow the construction of a manufacturing plant which is an essential project in the Korangi Creek Industrial Park (KCIP).

A NIP official said the agreement was signed by NIP Chief Executive Officer Mohsin Syed and Shahid Ghaury, an emerging name in the pharmaceutical industry, involved in the production of medicines for various harmful diseases.
Earlier, Getz Pharma, Mobil Askari Lubricants Limited, Al-Rehman Lubricants Private Limited and Faruk Impex Corporation had signed licence agreements with the NIP to start construction of their manufacturing units.

The new construction of manufacturing plants is helping to stabilize the economic situations of Pakistan.

This is because, as soon as the industrial units established at KCIP start production, this industrial zone alone will start contributing Rs40 billion annually to GDP and provide approximately 30,000 direct and 180,000 indirect employments.

KCIP will have an investment potential of Rs20 billion.

Spread over an area of 250 acres, KCIP plans to set up a training centre with the assistance of Sindh Technical Education and Vocational Training Authority (STEVTA) to train laborers according to the specific requirements of this industrial area.

Keeping in view the current volatile law and order situation in the city, the NIP will be taking special measures for the surety of every individual plus the environment of the work.

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Will the PML-N led govt be able to steer Pakistan out of economic crisis?

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