Karachi: The Sindh government on Sunday approved the construction of the Karachi Marble City, which will be constructed on 300 acres of land situated along the Northern Bypass, a news source reported. It also approved the construction of a modern, state-of-the-art technology park at the Nadir Edulgee Dinshaw (NED) University of Engineering and Technology.
These projects were approved during a meeting of the public-private partnership policy board. The participants agreed on the proposal to complete these schemes under a public-private partnership model. For this purpose, the authorities concerned had decided to invite private individuals and firms operating in the marble industry to invest in the project.
The executive recently allocated an additional 200 acres of land for the development of a construction industry in close proximity to the marble city. To facilitate this measure, a feasibility study will be conducted. The proposed facility would facilitate the production of marbles and other stones.
For the technology park, the government plans to collaborate with the NED University to build a 20-storey building at a cost of PKR 12 billion by 2021. As per report, the proposed facility would provide rental office spaces to IT companies at a 30% discount, along with logistical support.
These projects are expected to be given the status of special economic zones (SEZ). Under the SEZ Act of 2012, investors in both projects can to gain income tax and custom duty exemption for 10 years on the import of machinery.