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Karachi Textile City project likely to start on Mar 21

16
Mar '07
The long awaited Karachi Textile City project is expected to start on March 21, 2007.

Prime Minister Shaukat Aziz, will be the chief guest of the event.

The Karachi Textile city took three years to start its work. It was a long wait for this project to make its way from paper to ground.

The textile city was planned over an area of 1,250 acres near Port Qasim in 2004 but federal Ministry of Ports and Shipping provided 700 acres. This rift between the textile city management and the Ministry of Ports consumed three years, delaying the project.

The 11 Board members of Karachi Textile City have decided to increase the equity capital of KTC to Rs2.2 billion from current Rs1.2 billion.

This Textile City project is a first of its kind, which would have a desalination plant, a self-power generation plant and most modern facilities required for industrial production.

From this project, around 80,000 new jobs will be generated in the country.

With the completion of project, about 279 industrial plots would be sold to establish textile related industries.


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