ISLAMABAD: The construction work of the much-awaited Dhabeji Industrial Zone (DIZ) in Thatta will be started in July under the China-Pakistan Economic Corridor (CPEC) and likely to fetch $5 billion investment besides the creation of more than 200,000 jobs.

The DIZ is being developed on over 1,500 acres and Sindh Chief Minister Murad Ali Shah, during the contract signing ceremony on Tuesday, promised to provide extra land for the extension of the zone saying hundreds of investors are eager to set up their units in the zone.

It is also expected that big Chinese entrepreneurs will relocate their industries to the DIZ which will become a hub of economic activities due to its ideal location being close to Karachi Port and Bin Qasim Port.

The concession agreement between the Sindh government and concessionaire M/s Zahir Khan & Brothers (ZKB) was signed for the development of DIZ at Chief Minister House.

Sindh Economic Zones Management Company chief executive Abdul Azeem Uqaili and ZKB Development Company CEO Mohabbat Khan signed the agreement.

Talking to Dawn on Wednesday Mr Uqaili said the project was proposed to be implemented in two phases of 750 acres and 780 acres each.

Four Special Economic Zones are being developed in the country. Of which three are near completion while DIZ was hit by controversies and litigation as a result it has been delayed by five years.

Published in Dawn, February 24th, 2022