Chinese Steel Conglomerate to invest $360 Million

A Chinese company, Century Steel (Pvt) Ltd., will be investing $360 million in the Rashakai Special Economic Zone in Khyber Pakhtunkhwa.

For this purpose, 40 acres of land has been allocated to the company, which already has steel mills across Indonesia, Myanmar, Cambodia, and Ethiopia, with a net capacity of 3,000 million tons of iron and steel products.

It is said that all the utility facilities including electricity, gas, water and others for Rashakai Special Economic Zone would be completed by the end of this year.

The investment will be made under the China-Pakistan Economic Corridor (CPEC),