PESHAWAR: Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) signed a memorandum of understanding (MoU) with Alman Seyyam Sugar Mills (Pvt) Ltd to establish a new industrial set-up in Dera Ismail Khan.

“This is indeed another milestone achieved by KPEZDMC to promote industrialisation and sustainable economic development in Khyber Pakhtunkhwa,” said a statement issued on Wednesday.

Alman Seyyam is setting up a mill on an area of 100 acres with a daily production capacity of 8,000 tonnes. It will directly employ 700 skilled and unskilled labour, with around 3,000 indirect jobs from the district, the statement said.

The MoU was signed considering the agreement that the KPEZDMC will provide Alman Seyyam its consultancy services from inception till the project completion, including arrangement of regulatory approvals from relevant authorities.

Under the agreement, the KPEZDMC would be initiating their case for province’s first-ever private-sector Special Economic Zone Authority (SEZA) Enterprise application, which upon approval would enable it to avail certain customs duty and income tax exemptions for a period of 10 years.

The KPEZDMC has lately also been able to process and obtain approval of special economic zone (SEZ) status for Hattar phase-7 economic zone, the first ever SEZA-approved zone in KP.

Published in Dawn, July 14th, 2016