G&S Medcure to invest Rs. 250 million in Rashakai SEZ
By Tahir Ali
PESHAWAR, Sept 27 (Gwadar Pro) - G&S Medcure (Pvt.) Limited, with a strong base in Saudi Arabia in energy, power, and health sectors, is entering Rashakai Special Economic Zone (SEZ), a major project of the China-Pakistan Economic Corridor (CPEC) with an initial investment of PKR 250 million.
The company has signed an agreement with Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and China Road and Bridge Corporation (CRBC), the developers of RSEZ.
C&S Medcure will establish its state of art unit at Rashakai SEZ and plans to kick off construction on the project within this year.
The group, with 40 years of experience, intends to bring more innovative ideas and expertise from well-developed countries which will not only enhance and reshape the current market but also contribute to the Pakistani job market and will favourably impact import substitution, for not only demotic but for exports also.
A day before, Pakistan Oxygen Limited, a leading supplier of medical and industrial gases, also signed an agreement to invest US$ 15 million in Rashakai SEZ.
RSEZ is located at an ideal place, which is the confluence of the major five districts of KP and is reachable via a network of roads, motorways, and railways. The Government of KP and KPEZDMC and CRBC are developing RSEZ, which is spread over an area of approximately 1,000 acres of land. RSEZ is expected to provide 200,000 direct and indirect employment opportunities to the locals.
This article originally appeared on Gwadar Pro.