EconomyQuick read

Garment city gets $18m investment

The Express Tribune • • 1 min read

Garment city gets $18m investment

The Express Tribune reported that Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has unveiled proposals for a 400-acre garment hub at Port Qasim. Its first phase is forecast to create more than 138,000 jobs and earn roughly $2.2 billion a year from exports, according to a statement released on Monday. The plan centres on high-value clothing output and private investment.

Under the plan, the first phase would cover 250 acres, with 35% earmarked for internal roads, utilities and green spaces. The scheme is designed as a joint public-private venture, with the Port Qasim Authority providing infrastructure and utilities. Artistic Milliners, a Pakistani textile and denim manufacturer, plans a unit representing more than $18 million in investment, combining vertical integration with green technologies.

Exporters would get a single window with quicker processing and dedicated transport corridors. Overall utility capacity is planned at 13 million gallons of water daily, 64MW of grid electricity and 750,000 pounds of industrial gas per day. The plan is part of wider efforts to expand industrial and export capacity.

At a glance

  • The first phase is projected to create more than 138,000 jobs.
  • Artistic Milliners plans a unit representing more than $18 million in investment.
  • Projected exports are around $2.2 billion a year, with average garment value near $8 per piece.
Sectors:ApparelTextile CompositeTransport

Originally reported by The Express Tribune

This page is Investify's own summary. The full report, with all details and context, is on the publisher's site.

Read the full story

Want the full article here?

Log in to read the full article in the Investify reader, in English or Urdu.

Investify summarizes Pakistan Stock Exchange news in its own words and links each story to its original publisher. We always credit the source so you can read the full report and verify the details before making financial decisions.

Built for PSX investors

Business news.Every filing, summarised.

Top stories from Pakistan's business press and key findings from every PSX announcement.

Investify announcement summary with key findings from a PSX filing
Investify app home screen with Pakistan business news and PSX filings