KARACHI, Feb 21: City Nazim Mustafa Kamal said on Wednesday the master plan to develop a new city ‘Karachi Water Front Sugar Land City’ on 60,000 acres at Hawkesbay has been finalised.

Talking to the journalists here on Wednesday, he referred to a meeting held in this regard in Islamabad. He said the project would cost around 68 billion dollars. The agreement for the water front project would be signed in March with Nafeel Development of Dubai, he added.

In reply to a question, the nazim said President Musharraf had approved the plan and this would be the country’s biggest project which would provide job opportunity to millions of people. He hoped people would be hired not only from different parts of the country but also from abroad.

He said the concerned authorities had issued NOC for the construction of new city.

He said the meeting in Islamabad was also attended by Federal Ports and Shipping Minister Babar Ghori, Sindh Chief Minister Arbab Rahim, Chief Secretary Fazlur Rehman, KPT chairman, and representative of Nafeel Development and the Chief Executive of Dubai Islamic Bank.