Peshawar: Rashakai Economic Zone and its finance bill has been approved for execution at the Khyber- Pakhtunkhwa (KP) cabinet meeting.
The first economic zone under China Pakistan Economic Corridor (CPEC) will be a joint venture of the China Road and Bridge Company (CRBC) and the provincial government. It will bring an investment of $128 million in Pakistan.
A land of 1000 acres have been acquired for the mage project. Industrial units will need 702 acres. Remaining land will be used for residential accommodation and other required facilities.
A share of 25 percent to Karak, Kohat and Hangu districts in the oil and gas royalty was approved as well.
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