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Tuesday, April 16, 2024

PIEDMC’s QABP to get an Auto Parts Technology Park

Punjab Minister for Industries and Commerce Mian Aslam Iqbal has revealed that the government of Punjab is going to set up an Auto Parts Technology Park in Quaid-e-Azam business park to support the growing industrialisation.

According to Punjab Minister for Industries and Commerce Mian Aslam Iqbal, the government of Punjab has decided to establish an Auto Parts Technology Park in PIEDMC’s Quaid-e-Azam business park to support the growing industrialisation.

The Auto Parts Technology Park would be established on nine acres of land and it would assist the auto sector in terms of product design, training centres, parts manufacturing, testing and allied facilities, said Iqbal during a meeting with the members of PIEDMC.

Quaid e Azam Business Park, connected with M2 near Sheikhupura, is being developed by Punjab Industrial Estates Development & Management Company (PIEDMC), which has previously launched nine industrial zones, including the much-celebrated Sunder Industrial Estate.

This modern industrial estate being launched by PIEDMC enjoys the status of a special economic zone (SEZ) and is said to have the capacity to generate two hundred and fifty thousand new jobs for skilled and unskilled workers. Apart from being an SEZ, its strategic location, size and facilities are additional attractions for local and foreign investors.

Located right on the M2, it promises easy access not only to human resource, but also markets of the neighboring city of Sheikhupura (population: 450,000) and large industrial towns like Gujranwala (population: 2 million), and the provincial capital Lahore (population: 11 million). The modern features it offers for manufacturing, assembling, and product selling also make it an attractive choice for the businessmen.

Read More: PIEDMC approves Rs 21.59 billion budget

PIEDMC’s large industrial estate, spread over 1536 acres of land once completed as per its envisaged master plan and business concept, is expected to attract investments of over Rs. 250 billion. Location determines the potential of an industrial estate. It should have access to many alternative transportation modes such as train stations, national highways or even ports.

The higher the number of different transportation modes, the higher the opportunity for the businesses inside an estate. The QABP is attracting many investors due to its optimal location as it is only 6 KM from the nearest railway station, 42 KM from the nearest dry port (Lahore) and 55 KM from the closest airport (Lahore).

“Colonisation of industrial estates can accelerate economic growth, hence, PIEDMC should focus on colonisation of industrial zones,” Iqbal said. He further stated that the Sundar Industrial Estate was

He directed for consultation to be held for preparing the land acquisition model for the extended project and said PC-I of new schemes would be completed by July 15, 2021. The minister also informed the members that the Bahawalpur industrial estate would be inaugurated after Eid.

Moreover, Sundar-Raiwind and Manga-Raiwind roads would be widened to improve traffic flow in the Sundar Industrial Estate, the minister added.