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.
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.
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.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
