Islamabad, July 16 (INP): Gwadar Free Zone North, also known as Phase II, covering 2221 acres, will launch its first formal operation within the next 30 days.
This zone will enjoy exemption from all sorts of taxes and customs duties for a period of 20 years, Gwadar Pro reported on Sunday.
This watershed development coincides with Agven Private Limited, an export fertilizer company, gearing up for its first production operation in the second week of August.
Agven Private Limited is the first investor to establish an industry in Gwadar North Free Zone. It procured 10 acres of land in the Free Zone to set up a fertilizer factory, marking a first for Gwadar in both size and product.
Agven will start operations under temporary arrangements such as electricity and water provision by China Overseas Port Holding Company.
“The factory’s construction started last year and was completed in a remarkably short time. Agven will offer hundreds of job opportunities and provide local business opportunities in terms of commodities and raw material supply,” Project Coordinator Arslan told Gwadar Pro.
Upon operation, it can potentially attract other investors to Gwadar Free Zone. Mr. Arslan added that sulfur and sulfuric acid, used as raw materials for fertilizer manufacturing, would be imported from Iran and Central Asian countries.
Another export company, “Hangeng,” along with its branches “Hangeng Trade Co (SMC-PVT) Ltd” and “Yuanhua Industrial Co,” is set to start operations in Gwadar Free Zone North.
Hangeng Trading Co., Ltd. will foster cultivation and purchase of agricultural products like aloe vera and import pharmaceutical raw materials globally for processing in the Gwadar Free Zone and export to China. Yuanhua Industrial Co., Ltd. will mainly engage in animal husbandry and livestock development.
An official of Hangeng stated that the operation, expected to commence soon, will create 1,000 direct and 3,000 indirect employment opportunities for locals.
Hangeng plans to build an industrial ecosystem in Gwadar, intending to establish aquaculture, medical treatment, and technical support facilities. For this, experts from China will be hired to train local youth in animal husbandry, livestock, and aloe vera cultivation.
Moreover, a free animal husbandry breeding hospital will be established to provide medical and technical services. According to Hangeng’s 2024 plan, it will develop aloe vera planting bases, train aloe cultivation technicians, and engage in aloe processing.
