| Islamabad: The eagerly anticipated Gwadar Free Zone North, also known as Phase II, is set to commence formal operations within a month, according to news published in the leading newspaper on July 17.
Read: Chinese firm to build fish processing facility in Gwadar Free Zone
Encompassing an expansive area of 2,221 acres, this zone will offer a tax and customs duties exemption for a duration of 20 years. Coinciding with this watershed development, Agven Private Limited, an export fertilizer company, is gearing up for its inaugural production operation, scheduled for the second week of August.
As per the details, the Agven Private Limited is the pioneering investor to establish an industry within Gwadar North Free Zone. The company has secured a 10-acre plot of land within the Free Zone to construct a fertilizer factory, thereby marking a significant milestone in Gwadar’s industrial landscape, both in terms of size and product variety.
In addition to Agven Private Limited, another export-oriented company called Hangeng, along with its subsidiaries ‘Hangeng Trade Co (SMC-PVT) Ltd’ and ‘Yuanhua Industrial Co,’ is poised to initiate operations within Gwadar Free Zone North.
Read: Turkey, Saudi Arabia to establish warehouses in Gwadar Free Zone
Hangeng Trading Co. Ltd. intends to facilitate the cultivation and procurement of agricultural products such as aloe vera, while also importing pharmaceutical raw materials for processing within the Gwadar Free Zone, subsequently exporting the finished products to China. |
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