KARACHI: The National Industrial Parks Development and Management Company (NIP) and K-Electric on Wednesday signed an MoU to facilitate Bin Qasim Industrial Park’s (BQIP) for the ongoing Phase II development of the project.

The MoU was signed by CEO KE Moonis Alvi and CEO NIP Rizwan Bhatti in the presence of Adviser to Prime Minister on Textile and Industry, Abdul Razzak Dawood.

Under the MoU, KE will develop a 64MW grid and 132kV transmission line at BQIP, at an initial tentative cost of Rs1.8 billion. NIP will also seek approval from the federal government for funding support under Special Economic Zones Act 2012, says a press release.

Published in Dawn, February 21st, 2019