Karachi, August 22, 2013 (PPI-OT): Muhammad Zubair Motiwala, Chairman Sindh Board of Investment has said that Marble City Project is being established in Karachi on 300 Acres to strengthen the Provincial Marble Sector. He further said that the zone will offer multiple opportunities for the Value Addition and Processing for Entrepreneurs Being Based on High End Technology, Innovation and Services. This he said while presiding 4th Board meeting of Sindh Stone Development Company at his office on Wednesday 21st August.
Mr. Zubair Motiwala who is also the Chairman of Sindh Stone Development Company (SSDC) which is developing the State of the Art Marble City has further said that the creation of this enclave will not only boost the export volumes from exiting $60 Million to a minimum $250 million.
The Chairman SSDC said that it will also help bring in more FDI. He said Marble City is one of the priority projects of Sindh government and Sindh Board of Investment (SBI), through Sindh Stone Development Company is committed towards the successful materialization of this project at an earliest. Mr. Motiwala has said that a high demand exists in the international market for Pakistani marble but unfortunately it could not be satisfied due to dearth of modern technology among the existing players.
Mr. Arif Illahi, Secretary Industries and Commerce, a Director on SSDC Board has said that the procurement of land is a big achievement. He said that project needs to accelerated. He said that the project is to be planned and executed on a detailed feasibility study.
Mr. Zahid Hussain Memon, Secretary Mines and Minerals said that the establishment of the Project is good omen for this sector. He said that while establishing the Marble City, it is also important that the mining policies are also made entrepreneur friendly. He further said that the investors should be incentivized and facilities shall be provided for the granite and stone entrepreneurs of Sindh.
Director General, Mr. Muhammad Riazuddin, Sindh Board of Investment has said that the development of Marble city will not only create jobs but will also uplift the socio economic conditions of the surrounding areas. Mr. Haroon Rashid, Director, SSDC has said that the Marble City Project is a long awaited demand of the Local Marble Entrepreneurs. He said that a secure and enabling environment would facilitate in attracting the foreign investment from countries such as Italy, China and Turkey.
Earlier Director Projects, SBI, Mr. Abdul Azeem Uqaili SBI informed the forum the current status of the project. He said that the consultancy Firm has been engaged as per SPRRA rules. The Consulting Consortium will carryout will carry out the feasibility study with technical viability, transaction analysis, commercial development plan and other technical and transaction related activities. A presentation on project status and way forward was shared by the Consultancy Firm M/S Earnest and Young.
For more information, contact:
Sindh Board of Investment
Government of Sindh
1st Floor, Tower B, Finance and Trade Centre