As many as 7 local and foreign companies have signed memorandums of understanding (MoUs) with the Punjab Industrial Estates Development and Management Company (PIEDMC) for procuring land in the industrial estates being controlled by the company.
According to the company's spokesman, Al Ahad Oil and Feed Mills signed MoU for getting 8 acres of land, M/s MUX Foods for 4 acres land and Naqshbund Foods for 2 acres land in Multan Industrial Estate-II, M/s Global Steel Corporation for 5 acres land at the Chunian Industrial Estate, NSMEC China, Tian He International Holdings Group Limited for 400 acres and M/s Tianhe Tobacco International HK Company Limited, Hong Kong for 10 acres land at Bhalwal industrial Estate.
Earlier, addressing the participants of the seminar, chairman of PIEDMC Rizwan Khalid Butt briefed about the details for setting up industrial units in the estates. The Punjab government has largely overcome the infrastructure bottlenecks, power crisis, low transport connectivity for efficient trade logistics and low availability of suitable and affordable land for both industrial and commercial investment, he added.
He said the PIEDMC has set up 8 industrial estates on a total area of 5,000 acres in Punjab. Most of the industrial sites are near completion and now the actual challenge is to suggest the investors what type of industrial units they should set up on these estates. "The PIEDMC has decided to set up a facilitation desk at its head office to guide the prospective investors to achieve the target of job creation," he added.
Copyright Business Recorder, 2017