KARACHI: Marble City Karachi (MCK) will be developed on 300 acres of land in metropolis. This project is expected to attract an estimated investment of approximately $ 50 million. Syed Qasim Naveed Qamar Special Assistant to CM Sindh while addressing road show for Marble City Karachi held here at a local hotel said it is project through Public Private Partnership framework and will offer state-of-the-art infrastructure, utilities at doorstep and easy access to ports of Karachi.

It is ideally located on Northern Bypass which connects Karachi with rest of country. Project will uplift value-added marble sector and allied industries in Sindh.  RFP for project was launched through International Competitive Bidding process on November 17, 2022. Advertisements were published in Khaleej Times, Dawn and all leading national dailies. RFP is available on website for download.

Consortium of consultants comprised EY Ford Rhodes, EA Consulting and Haidermota are engaged as Transaction Advisors. Core objectives of project are providing secure, purpose-built industrial zone for not only dimension stone (marble and granite) sector but also allied industries in Karachi and also providing improved facilities for value addition stone sector. Initial land allocation ratio of saleable area for marble and allied industrial players shall be 70:30 respectively.

Developer shall arrange entire funding for development. Project revenues shall be routed through an Escrow account. IE and IA shall verify construction progress and then payments for construction shall be released. Zone enterprise applications that propose value addition for sector may be given preference. In roadshow more than 500 potential local and international investors attended event.

Abdul Aleem Uqaili CEO of Sindh Economic Zones Management Company informed participants that Marble City Karachi on 300 acres would be developed as an industrial estate to uplift value-added marble and granite sector and allied industries in Sindh.

Published in The Daily National Courier, December, 08 2022

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