STAFF REPORT ISB: Minister for Science and Technology Rana Tanveer Hussain has said that a Pak-China Technology Park will be set up in Islamabad.
“The Pak-China Science, Technology, Commerce and Logistic Park would serve as platform for technological, commercial linkages between the two countries,” the minister while addressing a press conference here.
He revealed that the project would be established at a cost of 1.5 billion dollars.
Giving details of the project, the Minister said it would be set up as part of the China-Pakistan Economic Corridor.
It would serve as a platform for technological and commercial linkages between Pakistan and China besides promoting investment and financing, e-commerce and research and development.
Rana Tanveer said that Pakistan would provide 500 hectares of land for the establishment of the Park and all other investment would be made by China.
He said three sites have tentatively been identified and a delegation of Xinjiang Production and Construction Corporation is arriving this month for finalization of the site.
He said foundation stone of the project is expected to be laid in March next year and it would be completed in ten years in three phases.