Century Steel set up 250KT Steel Plant in Rashakai SEZ in Pakistan
Business Recorder reported that Fuzhou Julitaihe International Company of China’s Century Steel (Pvt) Ltd will invest USD 50 million in the Rashakai Special Economic Zone in Khyber Pakhtunkhwa under the China-Pakistan Economic Corridor to set up 250,000 tonnes steel plant. The project will consume 45MW of electricity and create job opportunities for 1,000 employees directly or indirectly. 40 acres land has been allocated to Century Steel Ltd
Fuzhou Julitaihe International Company of China owns steel mills in Indonesia, Myanmar, Cambodia, and Ethiopia with a net capacity of 3 million tonnes of iron and steel products.
Due to its location on the motorway and proximity to the Torkham border and Central Asia, the Rashakai SEZ is expected to be the game-changer for Khyber-Pakhtunkhwa.